secwatch.observer — SEC 8-K summary
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Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001104659-24-116109
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465924116109/0001104659-24-116109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465924116109/tm2428063d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-116109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer