Plug Power Announces Closing of Over-Allotment in Connection With Common Stock OfferingFriday September 2, 4:10 pm ET
LATHAM, N.Y., Sept. 2 /PRNewswire/ -- Plug Power Inc. (Nasdaq: PLUG - News) today announced that it has completed the sale of 1,000,000 additional shares of its common stock pursuant to the underwriters exercise of their over-allotment option in connection with the Company's recent common stock offering. The shares were sold at the public offering price of $6.25 per share for aggregate proceeds to the Company of $6.25 million, before underwriting discounts and commissions and other offering expenses. The Company intends to use the net proceeds of the offering for working capital purposes, funds for operations, capital expenditures, research and product development, potential future acquisitions and other general corporate purposes.
**what the H is the stock doing at $7 if all they could get was $6.25?
Revenue of $16M you really gotta be an optimist here IMHO
Hydrogen economy is not likely around corner.
D
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