Plug Power Inc. (NASDAQ:PLUG) Files An 8-K Termination of a Material Definitive Agreement

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Plug Power Inc. (NASDAQ:PLUG) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of Material Definitive Agreement

On December 22, 2016, Plug Power Inc. (the “Company”) prepaid in full its obligations under the Loan and Security Agreement, dated as of June 27, 2016, by and among the Company, Emerging Power Inc., Emergent Power Inc. and Hercules Capital Inc. (the “Hercules Loan Agreement”), and the Hercules Loan Agreement was terminated.  The Hercules Loan Agreement provided for a senior secured term loan facility.  The Company used the net proceeds of its previously announced underwritten registered offerings, together with existing cash, to prepay the principal amount outstanding under the Hercules Loan Agreement and pay the fees and expenses related to such loan, which totaled $29.0 million. A copy of the Hercules Loan Agreement was included as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on June 30, 2016.


About Plug Power Inc. (NASDAQ:PLUG)

Plug Power Inc. is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled proton exchange membrane (PEM) fuel cell system. It provides power to material handling vehicles. GenFuel is a hydrogen fueling delivery system. It is designed to allow customers to refuel its GenDrive units for productivity. GenCare is an ongoing maintenance program for both the GenDrive fuel cells and GenFuel products. ReliOn is a stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors.

Plug Power Inc. (NASDAQ:PLUG) Recent Trading Information

Plug Power Inc. (NASDAQ:PLUG) closed its last trading session up +0.01 at 1.27 with 1,456,083 shares trading hands.