Plug Power Stock Drops Following $200 Million Public Offering Announcement
The hydrogen solutions provider plans to utilize proceeds for corporate purposes, affecting investor confidence.
- Plug Power announced a $200 million public offering, pricing shares at $2.54 each.
- The stock has declined over 77% in the past year, with a 13.4% drop in Friday's pre-market.
- The offering includes a 30-day option for underwriters to purchase additional shares.
- Proceeds from the offering will support general corporate purposes.
- Plug Power has completed 13 hydrogen refueling stations across Europe in the last two years.
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