FuelCell Energy Launches $200M Stock Offering with 15% Overallotment Option
FCEL•FuelCell Energy has launched an underwritten offering of $200 million in common stock, with underwriters granted a 30-day option to purchase up to an additional 15% of shares. Net proceeds are earmarked for expanding manufacturing capacity, supporting growth, working capital and general corporate purposes.
1. Offering Details
FuelCell Energy announced the launch of an underwritten public offering of $200 million of its common stock, granting the underwriters a 30-day option to purchase up to an additional 15% of shares at the public offering price, less underwriting discounts and commissions.
2. Intended Use of Proceeds
The company intends to use net proceeds, if the offering is completed, for capital expenditures to expand manufacturing capacity, to support growth initiatives, to bolster working capital and for general corporate purposes.
3. Offering Terms and Conditions
The offering is subject to market conditions and other factors, with a shelf registration on Form S-3 already effective, and Citigroup and Barclays acting as joint book-running managers; final terms will be detailed in a prospectus supplement.
