Seeking Alpha

Plug Power prices 18.6M-share stock offering at $0.54, shares tumble

  • The offering price is 20% below Plug's (PLUG -16.4%) Tuesday closing price. Net proceeds are expected to total $9.1M. (PR)
  • Chairman George McNamee and other "directors and existing stockholders" will buy shares through the offering.
  • The offering stands to increase Plug's diluted share count by 24%.
  • Previous: Plug Power announces stock offering
Comments (3)
  • Doubt they pulled the Plug. They are energizing and making a lot of investors wealthy. They've already made them wise in their private conversations with fund managers. How that skirts the insider info rules we'll never know. It's moves like this that try the souls of people such as myself who don't belong in the market. This company like all the other alternate energy companies have been around for quite a few years now and are still at the starting gate. PLUG went to about $100 approx. fifteen years ago when GE was toying with it. Nothings changed. The cells I suspect haven't improved. What gives?
    11 Sep 2013, 11:52 AM Reply Like
  • Great time to enter!
    11 Sep 2013, 11:52 AM Reply Like
  • Remember Plug has a huge reverse stock split card in it's back pocket.
    I am a holder that has already gone through 1 for 10 and nothing to show for it.
    Great product but for some reason they are afraid to enter the home retail market where vast profits lay UN-touched. WHY?
    Especially with the combined heat and power option.
    Mini fuel cells powering neighborhoods are even better than mini nuke plants. Instead we ship our gas over seas and continue to have energy insecurity.
    Go take a look at a small FC plant in the 5, 10, 15 megawatt range, see how quite it is, notice it's small foot print, try to smell or see even a hint of pollution. You are going to get your socks knocked off when you see how nice it really is. Then ask yourself WHY? why build huge transmission grids with huge losses of power, why build coal fired power plants even now, why pay huge fright costs to haul coal, Why let electric companies charge higher and higher prices for more and more unreliable power. Why, Why, Why?
    When a better answer is sitting on the table!
    11 Sep 2013, 10:59 PM Reply Like
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