Plug Power in 3.9M-share public offering, shares -5%

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

Plug Power (PLUG -4.9%) prices a registered offering of ~3.9M common shares at $5.74/share for gross proceeds of $22.4M; the stock closed yesterday at $6.75.

PLUG says it intends to use the net proceeds of the offering for working capital and other general corporate purposes, including capital expenditures.

Despite today's action, PLUG is +320% YTD.