Deal sells common shares at $2.39 each along with three-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 4 – FuelCell Energy Inc. raised $35 million in private placement of stock with NRG Energy, Inc. on July 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 14,644,352 common shares at $2.39 per share. The price per share is identical to the July 29 closing share price.
NRG also received three-year warrants for 2 million shares. The warrants are each exercisable at $3.35, a 40.17% premium to the July 29 closing share price.
FuelCell is based in Danbury, Conn., and produces carbonate fuel cell technology for stationary power generation.
| Issuer: | FuelCell Energy Inc.
|
| Issue: | Common stock
|
| Amount: | $35 million
|
| Shares: | 14,644,352
|
| Price: | $2.39
|
| Warrants: | For 2 million shares
|
| Warrant price: | $0.125
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.35
|
| Investor: | NRG Energy, Inc.
|
| Settlement date: | July 30
|
| Stock symbol: | Nasdaq: FCEL
|
| Stock price: | $2.39 at close July 29
|
| Market capitalization: | $611.06 million
|
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