Plug Power Seeks Share Increase, Closes Convertible Offering
Read, Watch or Listen
SLINGERLANDS, N.Y. Plug Power Inc. will hold a virtual Special Meeting of Stockholders on January 15, 2026, to seek approval to double its authorized common stock from 1.5 billion to 3.0 billion shares. The company filed a preliminary proxy with the SEC on November 20 and set a December 4 record date for voting eligibility. On November 21 Plug closed a convertible note offering that raised approximately $399.4 million in net proceeds, refinancing higher-cost debt and eliminating a first lien. The board recommends approval of both charter amendments to fund growth plans. Based on 11 articles reviewed and supporting research.
Prepared by Christopher Adams and reviewed by editorial team.
Timeline of Events
- Nov 20, 2025: Plug filed a preliminary proxy statement with the SEC.
- Nov 21, 2025: Company announced a virtual Special Meeting for Jan. 15, 2026.
- Nov 21, 2025: Convertible note offering closed, $431.25M principal, net ≈ $399.4M.
- Dec 4, 2025: Record date established for shareholder voting eligibility.
- Jan 15, 2026: Special Meeting scheduled to vote on charter amendments.
- Articles Published:
- 10
- Right Leaning:
- 0
- Left Leaning:
- 0
- Neutral:
- 10
- Distribution:
- Left 0%, Center 100%, Right 0%
Plug Power benefited from net proceeds of approximately $399.4 million from the convertible note offering, enabling the company to retire higher-cost debt, refinance upcoming obligations, eliminate a first lien, and increase short-term financial flexibility to support operational and strategic needs.
Existing common shareholders face potential dilution if management issues additional shares after the charter amendment; holders of prior high-interest debt were effectively replaced or refinanced, altering their prior risk/return profile.
Coverage of Story:
From Left
No left-leaning sources found for this story.
From Center
Plug Power Seeks Share Increase, Closes Convertible Offering
The Manila times Asianet News Network Pvt Ltd Taiwan News StreetInsider.com Investing.com UK Green Stock News Barchart.com wallstreet:online Bluefield Daily Telegraph Green Stock NewsFrom Right
No right-leaning sources found for this story.
Comments