Plug Power Kicks The Can To 2033, Escapes 'Death Spiral' Debt

Plug Power, Inc. (NASDAQ:PLUG) stock took a hit on Wednesday as investors digested the company's convertible notes offering — but, looking past the immediate drop, it’s a calculated move to fix Plug's balance sheet. While market investors react to the risk of dilution, Plug is effectively swapping “toxic” short-term debt for a much longer, cheaper lifeline. PLUG stock is dropping. See the real-time price action here. Debt ReliefThe headline number is a $375-million offering of convertible notes due in 2033, ...