Seeking Alpha

Plug Power sells more shares than planned in its biggest-ever stock sale

  • Plug Power (PLUG) sold 22.6M shares - far more than the 15M it had filed to sell - at $5.50 each, in its biggest stock sale ever today, showing continuing investor demand for some smaller tech companies despite the fuel cell company's turbulent trading history.
  • The offering raised $124.3M before the potential sale of additional shares to underwriters; PLUG has conducted five stock offerings since the start of last year, each raising $30M at most.
  • PLUG brought in Morgan Stanley to lead the offering with Barclays while demoting Cowen & Co., the banker on its last three equity sales, to a passive role in favor of underwriters that rank among the top 10 by market share in arranging U.S. stock sales.
Comments (53)
  • Chris DeMuth Jr.
    , contributor
    Comments (4032) | Send Message
     
    Plenty for everybody! Come and get 'em...
    24 Apr, 07:26 PM Reply Like
  • schuttekarl
    , contributor
    Comments (4) | Send Message
     
    It's GREEN, it's FASTER to deploy, it's a HEALTHIER work environment. The Domestic market for forklifts is HUGE. Amazon, Costco, Sam's, BJ's, TJ Maxx, Ross stores, Burlington, Macy's, Nordstrom's , Target, Whole foods Sysco ( food ), Nike and this is just the retail industry and some wholesalers.

     

    My point is that the MARKET is HUGE !! The time is know to capture market share while they own some key patents. Even if the economy slows down, their will still be a HIGH demand for any GREEN product. Especially in the food industry.

     

    If they focus on developing Domestic sales, they will have their hands full. Key is to expand future application's.

     

    The Gov't should support it's growth as it has in the past to jump start new industries for the future. Better than printing money, raising and lowering interest rates, relaxing the home loan requirements for people who are unable to maintain payments.
    25 Apr, 12:05 AM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Chris you are evil my friend. Good thing for book entry form or they would have to hire P&G to print the certificates on toilet paper...

     

    Actually when the symbol changes to $PLUGQ after the eventual reorganization that may make for a great novelty gift!
    25 Apr, 03:57 AM Reply Like
  • Special Situations and Arbs
    , contributor
    Comments (535) | Send Message
     
    That's really funny...more than 50% additional.....
    24 Apr, 07:30 PM Reply Like
  • CornStove
    , contributor
    Comments (79) | Send Message
     
    IS THIS THE BIG AUTO ANNOUNCEMENT?: non-binding memorandum of understanding (MOU) with Hyundai Hysco Co. Ltd. (Hysco) to create a joint venture partnership to develop and sell hydrogen fuel cells in countries throughout Asia using Hysco's advanced stack and plate technology...? released 4-21-2014
    24 Apr, 07:39 PM Reply Like
  • 19136401
    , contributor
    Comments (11) | Send Message
     
    Obviously not...
    24 Apr, 11:54 PM Reply Like
  • lakhi
    , contributor
    Comments (69) | Send Message
     
    The question is why is Hyundai Hysco interested in a JV with PLUG. Answer -- Hysco already supplies Fuel Cells to Hyundai Motors for their test cars , and they need the expertise to expand and reduce cost in R&D. Hyundai will be selling a Tucson SUV powered by Hydrogen Fuel cells next year. -- shown in several motor shows.
    25 Apr, 03:57 AM Reply Like
  • MrHexusThe1
    , contributor
    Comments (28) | Send Message
     
    What? Do you think Andy Marsh is going to use the money for a trip to disneyland? Its going to be used to operate and grow the company. These guys are focused on making aggressive moves to step the game up.

     

    Quote PLUG:

     

    “We intend to use the net proceeds from this offering for working capital and other general corporate purposes, including capital expenditures and potential acquisitions.”
    24 Apr, 07:39 PM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    general corporate purposes also includes Bonuses if I'm not mistaken...
    24 Apr, 07:40 PM Reply Like
  • Continental Kid
    , contributor
    Comments (197) | Send Message
     
    That statement follows every secondary share offering for every company...except this is the 3rd one this year...for PLUG...mind you it is only April.....He pumps the stock and issues the next day...

     

    Notice you don't see mutual funds buying this super special ..one of a kind stock....that oughta be your clue....

     

    best of luck to all
    24 Apr, 08:37 PM Reply Like
  • 19136401
    , contributor
    Comments (11) | Send Message
     
    How do you know that there are not mutual funds involved?
    24 Apr, 11:54 PM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    It's a tiny little thing called research, try it sometime...
    The info is out there if you know where to look. And take the time to read. It works a lot better than listening to stories or the innate finely-honed financial instinct of the typical retail investor.
    25 Apr, 03:53 AM Reply Like
  • MrHexusThe1
    , contributor
    Comments (28) | Send Message
     
    @JohnFoley

     

    And your "research" told you the same? That there are no mutual fund-type investors in $PLUG?.. Think again and do some "research" of your own. Try 15 institutions, including Invesco PowerShares. (Bought 567K Shares Yesterday) Ever heard of them?

     

    http://on-msn.com/QKGaYX
    25 Apr, 05:22 AM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    If they don't have real news for the cause of this offering then this should see 4-4.50 quickly.
    24 Apr, 07:48 PM Reply Like
  • User 509088
    , contributor
    Comments (933) | Send Message
     
    22 "million" shares. "that's" a lot "of" interested buyers. "are" they all "retail" investors, "do" you think"?"

     

    "I" guess "the" shorts will say "it's" the superior "marketing" ability of "the" new "brokers."

     

    If I were a short, my core temp would've gone up on the announcement, but chilled thru and thru on the size.

     

    less and less of the float is shorted. that landfall isn't getting closer, it's being driven farther away by the current!

     

    "why" did the "shorts" not listen to us "retail" investors""?"

     

    " "
    24 Apr, 07:48 PM Reply Like
  • mlauritz
    , contributor
    Comments (352) | Send Message
     
    ^ What?
    24 Apr, 08:59 PM Reply Like
  • Purple_K
    , contributor
    Comments (387) | Send Message
     
    "come" "on" "M" "lauritz"

     

    Dont "you" understand that "in"appropriate use of "quotes" implies "a" seri"o"us investor?
    25 Apr, 09:56 AM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    I'm bullish on PLUG long term but I agree with the Purple People Eater, aggravating post... why the hell would you use quotes like that?
    25 Apr, 10:00 AM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Maybe it was a screwed up keyboard, they do weird things when combined with alcohol...

     

    Especially when consumed in large quantities without a precious drop spilling between the keys...
    25 Apr, 10:08 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    What was PLUG's FCF and earnings over the last 2 years, LOL?

     

    Oh, nevermind....
    24 Apr, 08:12 PM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    What was Amazon's FCF and earnings? Oops
    24 Apr, 08:40 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    13446062,

     

    what does AMZN have to do with PLUG?

     

    Enlighten us please...
    24 Apr, 08:48 PM Reply Like
  • User 509088
    , contributor
    Comments (933) | Send Message
     
    mutant beavis, regarding your last 2 years comment- apple was going bankrupt until they brought jobsie back.

     

    how much did you buy at $60 while everyone was calling him a con and an ass and a company killer?

     

    btw- I had a 1980 xls. great car.
    24 Apr, 09:09 PM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    You didn't answer the question.
    25 Apr, 12:02 AM Reply Like
  • Mattster
    , contributor
    Comments (162) | Send Message
     
    Whenever you see new people with 1-6 comments on here trying to pump you know there is something very wrong with this thing.
    25 Apr, 01:07 AM Reply Like
  • lakhi
    , contributor
    Comments (69) | Send Message
     
    Both have very high P/Es and running at a loss for the best part of a decade. The differences?. No one complains about High P /E for Amazon.
    25 Apr, 04:01 AM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    Bingo!
    27 Apr, 07:03 AM Reply Like
  • edmedders
    , contributor
    Comments (2) | Send Message
     
    From what I understood from Andy's comments it was a North American auto manufacturer announcement. Not being naive but I can't believe he meant Hyundai in an Asian venture. That being said, it's been over 3 weeks since his comments that he would be revealing the deal within the next 3-4 weeks
    24 Apr, 08:38 PM Reply Like
  • User 19061561
    , contributor
    Comments (29) | Send Message
     
    Glad I've been watching this stock from the sidelines for the past months.. Yeah its a waste of time but the comments section is always enlightening.
    24 Apr, 08:39 PM Reply Like
  • Speetzman
    , contributor
    Comments (51) | Send Message
     
    Reminds me of the Simpsons episode after the tech crash where Bart unrolls shares of some worthless tech stock from a toilet paper dispenser.......this is great stuff!
    24 Apr, 08:40 PM Reply Like
  • User 509088
    , contributor
    Comments (933) | Send Message
     
    I felt the same way when pundits were saying that the us should ship it's jobs overseas and make up the diff lost by not being a manufacturer by investing in other companies.

     

    reminds me of the monorail episode. companies conned into giving up industrial competitiveness. companies conned into buying cdo's. companies conned into accepting the triple a's of the ratings agencies.

     

    AND IT CONTINUES TO THIS DAY! HA!

     

    I suppose we all chose the delusions we're most comfortable with.
    24 Apr, 09:13 PM Reply Like
  • intra
    , contributor
    Comments (46) | Send Message
     
    @Speetzman

     

    Excellent call!

     

    http://bit.ly/1lLBYCf
    24 Apr, 09:23 PM Reply Like
  • Maciej Kedzierski
    , contributor
    Comments (21) | Send Message
     
    Holy dillution Batman
    24 Apr, 08:56 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Holy delusion, Robin.
    24 Apr, 08:57 PM Reply Like
  • cactus jack 65
    , contributor
    Comments (258) | Send Message
     
    I can't even think of something stupid to say, and I usually have something stupid to say. But all I can say is
    24 Apr, 09:03 PM Reply Like
  • mlauritz
    , contributor
    Comments (352) | Send Message
     
    I thought I'd never say this but.... I LOVE ANDY MARSH!!!

     

    22.6M versus the original 15M; & before the underwriters options?! You Da Man Andy! Get those Longs!

     

    About time Andy showed the Shorts some love too ;-D
    24 Apr, 09:14 PM Reply Like
  • aeroguy48
    , contributor
    Comments (607) | Send Message
     
    PLUG will keep going as long as the government cheese keeps coming.
    24 Apr, 09:22 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    aeroguy,

     

    They didn't tell you?

     

    Obama will no longer be POTUS in less than 3 years.
    24 Apr, 09:28 PM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Hillary promises to keep the cheese a coming...
    25 Apr, 04:10 AM Reply Like
  • RayeBob
    , contributor
    Comments (148) | Send Message
     
    Aromatic cheese...natural gas and hydrogen sulfide
    25 Apr, 11:37 AM Reply Like
  • MrHexusThe1
    , contributor
    Comments (28) | Send Message
     
    With stock that is up 40 fold its not hard to decide who has made more money. Longs by far. Short sellers are a much smaller yet very vocal percentage of the market participants. Leave them to their rants and watch them become very quiet when they get squeezed on the next positive $PLUG news release.
    24 Apr, 11:34 PM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Maybe you haven't heard...
    It only costs pennies to short. So if the stock drops a dime, then you've doubled your money. Try it sometime...

     

    There are many ways to play this game. It just requires a lot of time spent learning and a little bit of luck to play it well.
    25 Apr, 04:07 AM Reply Like
  • MrHexusThe1
    , contributor
    Comments (28) | Send Message
     
    Really? Short Selling only costs pennies and you "Double" your money on a dime of downside?? Sounds like you have never short sold a stock once in your life sir... Please...
    25 Apr, 05:34 AM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Sounds like you need a better broker.

     

    But on the flip side, your loses can compound just as rapidly. That's why I always cover with calls, so your right that insurance premium adds to the price of doing business.
    25 Apr, 05:54 AM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Maybe I answered that one a little too quick. I am talking on a per share basis obviously. I almost never get hit with a hard to borrow charge and avoid those like the plague anyway. Inter-day you don't get hit with a borrow charge either. But I don't short that often, except through synthetic short positions via options and I usually position those for a net credit.
    25 Apr, 06:21 AM Reply Like
  • mikno
    , contributor
    Comment (1) | Send Message
     
    Does Morgan Stanley taking the lead offer any upside credibility?
    24 Apr, 11:56 PM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    Do fuel cells work? Do they provide distributed electricity? Do they pollute?
    24 Apr, 11:59 PM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    Really?
    25 Apr, 12:00 AM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    Do fuel cells work? Do they pollute? Do they provide distributed power? What's not to like?
    25 Apr, 12:02 AM Reply Like
  • 13446062
    , contributor
    Comments (7) | Send Message
     
    It's the message that counts, not the source.
    25 Apr, 12:03 AM Reply Like
  • cactus jack 65
    , contributor
    Comments (258) | Send Message
     
    I'm long PLUG but I would have to think that PLUG has to be the greatest short candidate to come around in a long long time.. And as far as the cheese goes it the best card the dems have.
    25 Apr, 07:14 AM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    ... Okay with all the random 2-3 comment anonymous players posting recently I think it's time for SA to institute an actual sign up process....

     

    I know its nice that you can just go open an email account and start a new SA account to troll forums in less than 5 minutes but for those of us who are seriously trying to learn, research, and make decisions its really frustrating to have to sift through this filth....
    25 Apr, 08:53 AM Reply Like
  • Doc's Trading
    , contributor
    Comments (601) | Send Message
     
    PLUG......Technical update Last advise given was to short the stock at the 8.90 level. The advise to also was given to drop the stop loss to 9.10. Now advise covering half your short position here, 55.35-5.40 and lowering buy stop on balance to 6.10. Over time it is my belief the stock has a quite a bit further to fall. I may take several months more to reach its ultimate bottom so have patience.
    more later.......
    25 Apr, 03:45 PM Reply Like
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