LATHAM, N.Y., April 22, 2014 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that it intends to offer and sell, subject to market and other conditions, common stock in an underwritten public offering.
Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as the book-running managers and Cowen and Company, LLC and FBR Capital Markets & Co. are acting as co-managers for the offering. Plug Power intends to use the net proceeds of the offering for working capital and general corporate purposes, which may include capital expenditures and potential acquisitions. The securities described are being offered by Plug Power Inc. pursuant to a shelf registration statement on Form S-3 including a base prospectus. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement related to the offering has been filed with the SEC on April 22, 2014 and will be available on the SEC's website located at www.sec.gov . Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2 nd Floor, New York, New York, 10014, or by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, by calling (888) 603-5847 or by emailing email@example.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Plug Power Inc.The architects of modern fuel cell technology, Plug Power is revolutionizing the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders, including Walmart, Sysco, Procter & Gamble, and Mercedes Benz, forged the path for Plug Power's innovative GenKey hydrogen and fuel cell system solutions. With more than 4,500 GenDrive units deployed to material handling customers, accumulating over 20 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today.