PLUG POWER INC (PLUG): debt financing — Plug Power secures $525M credit facility, reports preliminary Q1 revenue ~$130-134M

PLUG POWER INC

Enters secured debt facility with Yorkville for up to $525M; initial $210M tranche to close May 2, 2025, at 15% interest.
Initial tranche proceeds retire ~$82.5M of Yorkville convertible debenture, reducing potential dilution (~55M shares).
Preliminary Q1 2025 revenue $130-134M, Q2 guidance $140-180M; net cash usage improved to ~$142M vs $268M in Q1 2024.
Louisiana 15TPD hydrogen plant online; cost reduction initiatives expected to drive over $200M annual savings.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PLUG POWER INC incurred senior notes of $210,000,000 with YA II PN, Ltd. at 15% per annum maturing May 1, 2028.

Instrument: senior notes
Principal: $210,000,000
Counterparty: YA II PN, Ltd.
Rate: 15% per annum
Maturity: May 1, 2028
Event: incurrence

Exact text from the filing

the Buyer has committed to purchase an initial tranche of secured debentures in an aggregate principal amount of $210,000,000

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102 debt financings filed in the last 30 days. Browse all debt financings →

PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-25-039782

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