Plug Power Inc. Completes $15.0 Million Public Offering of Common Stock
LATHAM, N.Y., March 28, 2012 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that it has completed the previously announced underwritten public offering of 13,000,000 shares of its common stock. The shares were sold at a price to the public of $1.15 per share for gross proceeds of approximately $15.0 million.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by Plug Power (PLUG) were approximately $13.6 million.
ROTH Capital Partners acted as the sole manager for the offering.
The securities described were offered by Plug Power Inc. pursuant to a shelf registration statement on Form S-3 including a base prospectus, previously filed and declared effective by the Securities and Exchange Commission (SEC). The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and final prospectus supplement related to the offering were filed with the SEC on March 23, 2012 and March 26, 2012, respectively, and are available on the SEC's website located at www.sec.gov. Electronic copies of the final prospectus supplement also may be obtained from Roth Capital Partners, LLC Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power's key accounts, including Wegmans, Whole Foods, and FedEx Freight. With more than 2,000 GenDrive units shipped to material handling customers, accumulating over 5.5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com .
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CONTACT: Media Contact: Reid Hislop Plug Power Inc. Phone: (518) 782-7700 ext. 1360 email@example.com Investor Relations Contact: Cathy Yudzevich Plug Power Inc. Phone: (518) 782-7700 ext. 1448 firstname.lastname@example.org
Source: Plug Power Inc. 2012 GlobeNewswire, Inc.