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Plug Power | 8-K: Exchange Agreement

Plug Power | 8-K: Current report

普拉格能源 | 8-K：重大事件
SEC announcement ·  03/13 08:13
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On March 12, 2024, Plug Power Inc., a leader in alternative energy technology, announced the initiation of exchange agreements with certain holders of its 3.75% Convertible Senior Notes due 2025. The exchange will involve $138,816,000 in aggregate principal amount of the existing notes, plus accrued interest, for $140,396,000 in aggregate principal amount of new 7.00% Convertible Senior Notes due 2026. This strategic financial maneuver, known as the Exchange Transactions, is set to close on or about March 20, 2024, subject to customary closing conditions. After the exchange, approximately $58.5 million in aggregate principal amount of the existing notes will remain outstanding. The new notes will be senior, unsecured obligations of Plug Power, bearing interest at 7.00% per annum, with semi-annual payments starting June 1, 2024. The conversion rate for the new notes is...Show More
On March 12, 2024, Plug Power Inc., a leader in alternative energy technology, announced the initiation of exchange agreements with certain holders of its 3.75% Convertible Senior Notes due 2025. The exchange will involve $138,816,000 in aggregate principal amount of the existing notes, plus accrued interest, for $140,396,000 in aggregate principal amount of new 7.00% Convertible Senior Notes due 2026. This strategic financial maneuver, known as the Exchange Transactions, is set to close on or about March 20, 2024, subject to customary closing conditions. After the exchange, approximately $58.5 million in aggregate principal amount of the existing notes will remain outstanding. The new notes will be senior, unsecured obligations of Plug Power, bearing interest at 7.00% per annum, with semi-annual payments starting June 1, 2024. The conversion rate for the new notes is initially set at 235.4049 shares of common stock per $1,000 principal amount, which equates to an initial conversion price of approximately $4.25 per share. This rate represents a 20% premium over the last reported sale price of Plug's common stock on the Nasdaq Capital Market as of the announcement date. The new notes are convertible under certain conditions and during specified periods, with the company having the option to settle conversions in cash, shares, or a combination thereof. Additionally, the new notes may be redeemed by the company under specific circumstances and are subject to customary adjustments upon certain events.
2024年3月12日，替代能源技術的領導者Plug Power Inc. 宣佈與其2025年到期的3.75％可轉換優先票據的某些持有人啓動交換協議。該交易所將涉及現有票據的本金總額爲138,816,000美元，外加應計利息，2026年到期的新7.00％可轉換優先票據的本金總額爲140,396,000美元。這種被稱爲交易所交易的戰略財務手段定於2024年3月20日左右結束，但須遵守慣例成交條件。交易後，現有票據的本金總額約爲5,850萬美元將保持未償還狀態。新票據將是Plug Power的優先無擔保債務，年利率爲7.00％，從2024年6月1日起每半年還款一次。新票據的轉換率最初設定爲每1,00...展開全部
2024年3月12日，替代能源技術的領導者Plug Power Inc. 宣佈與其2025年到期的3.75％可轉換優先票據的某些持有人啓動交換協議。該交易所將涉及現有票據的本金總額爲138,816,000美元，外加應計利息，2026年到期的新7.00％可轉換優先票據的本金總額爲140,396,000美元。這種被稱爲交易所交易的戰略財務手段定於2024年3月20日左右結束，但須遵守慣例成交條件。交易後，現有票據的本金總額約爲5,850萬美元將保持未償還狀態。新票據將是Plug Power的優先無擔保債務，年利率爲7.00％，從2024年6月1日起每半年還款一次。新票據的轉換率最初設定爲每1,000美元本金235.4049股普通股，相當於每股約4.25美元的初始轉換價格。該利率比截至公佈之日Plug在納斯達克資本市場上次報告的普通股銷售價格高出20％。新票據在特定條件下可在特定期限內兌換，公司可以選擇以現金、股票或其組合方式結算轉換。此外，公司可以在特定情況下兌換新票據，並會根據某些事件進行慣例調整。

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