Plug Power raises $190M via $200M convertible debenture at 6% interest, conversion at $2.90

PLUG POWER INC

Issued $200M unsecured convertible debenture to YA II PN Ltd.; net proceeds $190M, close Nov 12.
Interest 6% per annum (16% on default); maturity 2 years from issuance.
Initial conversion price $2.90, a 146% premium to Nov 11 closing price.
Monthly conversion cap: $22.5M at lower of $2.90 or 97.25% of 3-day VWAP (subject to floor).
Up to 182M shares may be issued upon conversion; resale registration statement to be filed.

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