PLUG POWER INC (PLUG): debt financing — Plug Power closes $431.25M 6.75% convertible senior notes offering; repays $245.7M of secured debentures

PLUG POWER INC

Aggregate principal $431.25M (upsized from $375M via full greenshoe); net proceeds $399.4M after discounts and expenses.
Used $245.7M to fully repay 15.00% secured debentures plus related termination fee, and $153.9M to repurchase $138.0M of 7.00% convertible notes due 2026.
Notes convertible at $3.00/share (40% premium over Nov 18 close of $2.14); initial conversion rate 333.3333 shares per $1,000 principal.
Offering price 95% of principal; interest 6.75% payable semi-annually; notes mature Dec 2033, redeemable after Dec 6, 2028 under certain conditions.
Holders can require repurchase on Dec 6, 2029 or upon a fundamental change; remaining net proceeds for working capital and general corporate purposes.

item 1.01 item 1.02 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

PLUG POWER INC incurred convertible notes of $431.25 million aggregate principal amount with U.S. Bank Trust Company, National Association at 6.75% maturing December 1, 2033.

Instrument: convertible notes
Principal: $431.25 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.75%
Maturity: December 1, 2033
Event: incurrence

Exact text from the filing

completed its previously announced private offering (the “offering”) of $431.25 million aggregate principal amount of 6.75% Convertible Senior Notes due 2033

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

PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-25-114978

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