Plug Power upsizes ATM equity facility to $1B, increases daily and weekly purchase limits

PLUG POWER INC

Amendment No. 1 raises aggregate offering price under ATM Sales Agreement from $302M sold back to $1B.
Maximum daily principal purchase amount increased from $10M to $11M; weekly cap from $30M to $55M.
After June 1, thresholds drop to $10M daily / $30M weekly if market cap falls below $1B.
B. Riley commissions: up to 3% (agency) or 5% (principal) of gross proceeds.
Prospectus supplement registration number corrected to 333-265488.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLUG POWER INC amended Amendment No. 1 to the Original Agreement with B. Riley Securities, Inc. valued at increased the aggregate offering price ... by $302,073,006 to $1 billion (effective 2024-02-23).

Action: amendment
Agreement: atm program
Counterparty: B. Riley Securities, Inc.
Value: increased the aggregate offering price ... by $302,073,006 to $1 billion
Effective: 2024-02-23

Exact text from the filing

On February 23, 2024, the Company and B. Riley entered into Amendment No. 1 to the Original Agreement (the "Amendment" and, together with the Original Agreement, the "Sales Agreement") to increase the aggregate offering price of shares of Common Stock available for issuance under the Original Agreement.

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Source: SEC EDGAR

accession 0001104659-24-027138

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