Plug Power Inc. announced the pricing of $375.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2033 in a private offering to qualified institutional buyers. The sale is expected to result in approximately $347.2 million in net proceeds to Plug Power after deducting expenses. Plug Power intends to use the proceeds to repay outstanding debts and repurchase existing notes. The notes will bear interest at a rate of 6.75% per year and mature on December 1, 2033. Holders have options for redemption and conversion. The offering is subject to customary closing conditions and not registered under the Securities Act.

Read more at GlobeNewswire: Plug Power Inc. Announces Pricing of Offering of $375.0