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News  ›  GlobeNewswire Inc.

Plug Power Inc. Announces Pricing of Offering of $375.0 Million of 6.75% Convertible Senior Notes

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Plug Power Inc.
Plug Power Inc. Announces Pricing of Offering of $375.0 Million of 6.75% Convertible Senior Notes

Plug Power is raising $375 million through a convertible senior notes offering, intending to repay existing secured debentures and repurchase outstanding convertible notes due in 2026.

Insights
NVDA   positive

Highlighted as a dominant growth stock in the AI era, part of the 'Magnificent Seven' tech companies


PLUG   neutral

The company is restructuring its debt by raising new convertible notes at a lower interest rate (6.75%) and using proceeds to repay higher-interest (15.00%) secured debentures, which suggests a strategic financial management approach