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0 0.00539083557951483 -0.00539083557951483 -0.00539083557951483 0 0.0242587601078167 0.0242587601078167 0.0242587601078167
Stock impact report

Plug Power Stock Is Plunging. Here's What Investors Need to Know. [Yahoo! Finance]

Plug Power, Inc. (PLUG) 
Last plug power, inc. earnings: 3/5 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.plugpower.com/home/default.aspx
Company Research Source: Yahoo! Finance
Plug Power shares tumbled Wednesday after the hydrogen fuel cell maker announced a sale of $375 million in convertible notes. The company said it will use the money to pay off debt. The stock has lost 60% of its value since hitting a 52-week high in early October. Plug Power ( PLUG ) shares sank Wednesday after the maker of hydrogen fuel cells announced it would sell $375 million in debt that could be converted into stock. The company said the notes would pay a rate of 6.75%, and be sold to qualified institutional investors in a private offering. Plug Power said that it intends to use $245.6 million in net proceeds to pay off current debt having a rate of 15%, and $101.6 million plus cash on hand to pay off another debt at 7%. Why This News Matters Plug Power plans to raise $375 million through convertible debt to pay down higher-interest obligations, offering investors the option to convert the notes into stock. This news comes as the hydrogen fuel-cell maker has seen it Show less Read more
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