Summary by Moomoo AI
FuelCell Energy, Inc. (FuelCell Energy), a leader in sustainable clean energy technologies, has amended its Open Market Sale Agreement with a consortium of sales agents including Jefferies LLC, B. Riley Securities, Inc., and others. The amendment, effective April 10, 2024, allows FuelCell Energy to offer and sell up to $300,000,000 of its common stock. The common stock is listed on the Nasdaq Global Market under the symbol 'FCEL.' The last reported sale price of FuelCell Energy's common stock was $1.21 per share as of April 9, 2024. The sales agents will use commercially reasonable efforts to sell the shares on a mutually agreed basis, with no obligation to sell any specific number or dollar amount. FuelCell Energy will pay a commission of 2.0% of the gross proceeds from each sale. The proceeds will be used for various corporate purposes, including the development and commercialization of product platforms, project financing, and potential strategic investments. The offering is considered an 'at the market offering' as defined by the Securities Act of 1933.