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

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

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%.

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