Plug Power 10-Q Details Amazon Deal Warrants
Ticker: PLUG · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1093691
| Field | Detail |
|---|---|
| Company | Plug Power Inc (PLUG) |
| Form Type | 10-Q |
| Filed Date | Aug 8, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: warrants, amazon, sec-filing, financial-instruments
Related Tickers: AMZN
TL;DR
Plug Power's Q2 10-Q shows Amazon deal warrants, impacting future share structure.
AI Summary
Plug Power Inc. filed its 10-Q for the period ending June 30, 2024. The filing details various financial instruments and agreements, including warrants issued in connection with an Amazon Transaction Agreement from 2022. Specific inputs like share price, risk-free interest rate, price volatility, and exercise price were noted for these warrants, with some related to "WarrantIssuedTrancheFour" in 2024 and others to "WarrantsTranchesOneThroughThree" from August 24, 2022.
Why It Matters
This filing provides insight into the financial obligations and equity structures related to Plug Power's significant agreements, impacting investor understanding of potential dilution and financial commitments.
Risk Assessment
Risk Level: medium — The filing details financial instruments and agreements that could have future financial implications, warranting a medium risk assessment.
Key Players & Entities
- PLUG POWER INC (company) — Filer
- 2024-06-30 (date) — Reporting Period End Date
- 2022-08-24 (date) — Date of Amazon Transaction Agreement Warrants
- AmazonTransactionAgreement2022 (agreement) — Specific Agreement Mentioned
- WarrantIssuedTrancheFour (financial_instrument) — Specific Warrant Tranche
- WarrantsTranchesOneThroughThree (financial_instrument) — Specific Warrant Tranche
FAQ
What were the key financial inputs disclosed for the warrants issued under the Amazon Transaction Agreement in 2024?
The filing discloses inputs such as share price, risk-free interest rate, price volatility, and exercise price for "WarrantIssuedTrancheFour" as of June 30, 2024.
When were the "WarrantsTranchesOneThroughThree" related to the Amazon Transaction Agreement issued?
The "WarrantsTranchesOneThroughThree" related to the Amazon Transaction Agreement were issued on August 24, 2022.
What is the fiscal year end for Plug Power Inc.?
Plug Power Inc.'s fiscal year ends on December 31.
What is the SEC file number for Plug Power Inc.'s filings?
The SEC file number for Plug Power Inc. is 001-34392.
What is the business address of Plug Power Inc.?
The business address of Plug Power Inc. is 125 VISTA BOULEVARD, SLINGERLANDS, NY 12159.
Filing Stats: 4,529 words · 18 min read · ~15 pages · Grade level 18.6 · Accepted 2024-08-08 16:07:25
Filing Documents
- plug-20240630x10q.htm (10-Q) — 2830KB
- plug-20240630xex10d1.htm (EX-10.1) — 28KB
- plug-20240630xex10d4.htm (EX-10.4) — 64KB
- plug-20240630xex10d5.htm (EX-10.5) — 74KB
- plug-20240630xex10d6.htm (EX-10.6) — 727KB
- plug-20240630xex10d7.htm (EX-10.7) — 38KB
- plug-20240630xex10d8.htm (EX-10.8) — 23KB
- plug-20240630xex10d9.htm (EX-10.9) — 46KB
- plug-20240630xex31d1.htm (EX-31.1) — 12KB
- plug-20240630xex31d2.htm (EX-31.2) — 12KB
- plug-20240630xex32d1.htm (EX-32.1) — 8KB
- plug-20240630xex32d2.htm (EX-32.2) — 8KB
- plug-20240630xex10d6003.jpg (GRAPHIC) — 189KB
- plug-20240630xex10d6004.jpg (GRAPHIC) — 131KB
- plug-20240630xex10d6005.jpg (GRAPHIC) — 99KB
- plug-20240630xex10d6006.jpg (GRAPHIC) — 113KB
- plug-20240630xex10d6007.jpg (GRAPHIC) — 109KB
- plug-20240630xex10d6008.jpg (GRAPHIC) — 118KB
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- plug-20240630xex10d7004.jpg (GRAPHIC) — 65KB
- plug-20240630xex10d8001.jpg (GRAPHIC) — 155KB
- 0001558370-24-011593.txt ( ) — 16959KB
- plug-20240630.xsd (EX-101.SCH) — 105KB
- plug-20240630_cal.xml (EX-101.CAL) — 103KB
- plug-20240630_def.xml (EX-101.DEF) — 464KB
- plug-20240630_lab.xml (EX-101.LAB) — 842KB
- plug-20240630_pre.xml (EX-101.PRE) — 660KB
- plug-20240630x10q_htm.xml (XML) — 2527KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
– Interim Condensed Consolidated Financial Statements (Unaudited)
Item 1 – Interim Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Interim Condensed Consolidated Financial Statements 8
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 37
– Quantitative and Qualitative Disclosures About Market Risk
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 60
– Controls and Procedures
Item 4 – Controls and Procedures 60
OTHER INFORMATION
PART II. OTHER INFORMATION
– Legal Proceedings
Item 1 – Legal Proceedings 61
– Risk Factors
Item 1A – Risk Factors 61
– Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 62
– Defaults Upon Senior Securities
Item 3 – Defaults Upon Senior Securities 62
– Mine Safety Disclosures
Item 4 – Mine Safety Disclosures 62
– Other Information
Item 5 – Other Information 62
– Exhibits
Item 6 – Exhibits 64
Signatures
Signatures 66 2 Table of Contents PART 1. FINANCIAL INFORMATION
— Interim Financial Statements (Unaudited)
Item 1 — Interim Financial Statements (Unaudited) Plug Power Inc. and Subsidiaries Condensed Consolidated Balance Sheet s (In thousands, except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 62,359 $ 135,033 Restricted cash 222,847 216,552 Accounts receivable, net of allowance of $ 7,485 at June 30, 2024 and $ 8,798 at December 31, 2023 189,863 243,811 Inventory, net 939,534 961,253 Contract assets 132,900 126,248 Prepaid expenses and other current assets 124,919 104,068 Total current assets 1,672,422 1,786,965 Restricted cash 733,700 817,559 Property, plant, and equipment, net 1,509,693 1,436,177 Right of use assets related to finance leases, net 54,735 57,281 Right of use assets related to operating leases, net 376,106 399,969 Equipment related to power purchase agreements and fuel delivered to customers, net 117,335 111,261 Contract assets 29,531 29,741 Intangible assets, net 178,338 188,886 Investments in non-consolidated entities and non-marketable equity securities 96,814 63,783 Other assets 11,179 11,116 Total assets $ 4,779,853 $ 4,902,738 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 253,715 $ 257,828 Accrued expenses 112,612 200,544 Deferred revenue and other contract liabilities 174,828 204,139 Operating lease liabilities 66,405 63,691 Finance lease liabilities 10,159 9,441 Finance obligations 85,642 84,031 Current portion of long-term debt 3,030 2,716 Contingent consideration, loss accrual for service contracts, and other current liabilities 103,223 142,410 Total current liabilities 809,614 964,800 Deferred revenue and other contract liabilities 71,018 84,163 Operating lease liabilities 264,251 292,002 Finance lease liabilities 30,573 36,133 Finance obligations 245,011