secwatch.observer — SEC 8-K summary
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Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2025-11-21T23:59:59+00:00
Accession:  0001104659-25-114978
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plug Power closes $431.25M 6.75% convertible senior notes offering; repays $245.7M of secured debentures
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465925114978/0001104659-25-114978-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465925114978/tm2531936d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-114978

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