Plug Power secures ~$371M from warrant exercise; issues new warrants for up to 185M shares at $7.75

PLUG POWER INC

Investor exercises all existing warrants at $2.00/share for cash, yielding ~$371M gross proceeds.
Company issues new warrants to purchase up to 185,430,464 shares at $7.75/share, expiring March 20, 2028.
New warrants subject to beneficial ownership blocker of 4.99% (or up to 9.99% at holder's election).
Company must increase authorized shares for warrant exercise; otherwise cash settlement after Feb 28, 2026.
Net proceeds to be used for working capital and general corporate purposes.

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