Plug Power, Inc. (NASDAQ:PLUG) stock rose Friday after closing a major refinancing that reshaped its balance sheet.The company also scheduled a key shareholder vote to expand its authorized share count next year.Plug closed a convertible note offering totaling $431.25 million due in 2033.Also Read: BJ’s Wholesale Shines As Shoppers Go Premium And Stay LoyalThe deal included full exercise of the underwriters’ additional purchase option. After fees and expenses, Plug received about $399.4 million in net proce ...

Core Viewpoint - Plug Power, Inc. announced a new warrant inducement agreement with a key institutional investor, allowing the immediate exercise of outstanding warrants, which is expected to provide approximately $370 million in gross proceeds before expenses [1][4]. Financing Details - The agreement involves the exercise of existing warrants covering 185.43 million shares at an exercise price of $2.00 per share, with the investor receiving new warrants for the same number of shares [2]. - The new warrants have an exercise price of $7.75, which is about double Plug Power's last closing price, and will be exercisable once shareholders approve an increase in authorized shares [3]. - If fully exercised for cash, the company could raise up to an additional $1.4 billion, with proceeds intended for general corporate purposes and working capital [4]. Leadership Transition - A staged leadership transition was outlined, with Jose Luis Crespo set to become president on October 10 and expected to take over as CEO after the filing of the 2025 annual report, likely in March 2026 [5]. - Current CEO Andy Marsh will remain until the transition, after which he will become executive chair, and George McNamee has been named lead director effective October 10 [5]. Market Reaction - Following the announcement, Plug Power's shares declined by 8.27% to $3.55, with a significant trading volume of 98.7 million shares [7]. - The stock is currently 22.6% below its 52-week high but has increased by 86.8% compared to its 50-day moving average [7]. Company Focus - Plug Power remains committed to expanding its hydrogen ecosystem and maintaining its leadership position in the hydrogen economy [6].

Group 1 - Plug Power announced a staged leadership transition, promoting Jose Luis Crespo to president and later to CEO, with Andy Marsh transitioning to executive chair [1][5] - The leadership change is intended to emphasize execution and profitability during a period of increasing hydrogen adoption across various sectors [2][3] - Crespo has been with Plug since 2014, previously serving as chief revenue officer, and has played a significant role in developing a commercial pipeline worth billions [3][4] Group 2 - The company reported that its stock has gained over 83.56% in the past year, indicating strong investor interest [3] - Crespo aims to focus on execution, profitability, and customer success to ensure sustainable growth for Plug Power [5] - The stock price of Plug Power fell by 5% to $3.92 following the announcement of the leadership transition [6]

When “hydrogen” and “explode” appear in the same sentence, it usually spells disaster. This time, it spells breakthrough. Shares of Plug Power, a hydrogen tech provider, have exploded in the past week, climbing roughly 50% through the past five trading sessions (though its 10-day streak finally snapped on Tuesday). Given the company’s not-so-impressive history, what’s with the runup? READ ALSO: Feast or Fluke? US Home Sales Hit Highest in Almost Four Years and Tether Poised to Join Ranks of World’s Most V ...

The hydrogen technology provider is on a 10-day winning streak. ...