FuelCell Energy convertible preferred stockholders convert 39,755 shares into common stock

By Angela McDaniels

Seattle, April 27 - FuelCell Energy, Inc. entered into transactions with some holders of its series B cumulative convertible perpetual preferred to convert 39,755 shares of the preferreds into 3,383,403 shares of FuelCell's common stock between April 4 and April 27, according to an 8-K report filed with the Securities and Exchange Commission.

Preferred holders received 85.1064 shares of FuelCell common stock per share of series B preferred stock.

FuelCell paid a $4,096,400 conversion premium, an average of $103.04 per share, and sold 337,500 shares of its common stock at an average price of $12.10 per share between March 29 and April 24 to fund the payment of the conversion premium, according to the filing.

FuelCell is based in Danbury, Conn., and produces carbonate fuel cell technology for stationary power generation.

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