Summary by Moomoo AI
Plug Power Inc. has announced an At Market Issuance Sales Agreement with B. Riley Securities, Inc. to offer and sell shares of common stock up to an aggregate offering price of $1,000,000,000. The common stock is listed on the Nasdaq Capital Market under the symbol 'PLUG.' As of January 16, 2024, the last reported sale price of Plug Power's common stock was $3.04 per share. The sales agreement allows for the sale of common stock through B. Riley Securities as sales agent or principal, using methods deemed an 'at the market offering' as defined by the Securities Act. B. Riley Securities will receive a commission for their role in the transactions. The agreement also includes indemnification provisions for B. Riley Securities against certain liabilities. The prospectus supplement, dated January 17, 2024, provides further details on the offering, including risk factors and the use of proceeds, which are intended primarily for working capital, capital expenditures, and general corporate purposes.