PLUG POWER: Material Definitive Agreement Entered on Jan 17

TL;DR

**PLUG just signed a major deal, details pending, watch for impact.**

AI Summary

Plug Power Inc. filed an 8-K on January 17, 2024, indicating an "Entry into a Material Definitive Agreement." While the specific details of the agreement are not disclosed in this summary, the filing signals a significant new commitment or partnership for the company. This matters to investors because such agreements can profoundly impact future revenue, expenses, and strategic direction, potentially leading to stock price volatility depending on the nature and terms of the deal.

Why It Matters

This filing signals a new, potentially impactful business agreement for Plug Power, which could influence its financial performance and strategic position. Investors should monitor for further details to assess the implications.

Risk Assessment

Risk Level: medium — The risk is medium because a material definitive agreement can be either highly beneficial or detrimental, and the specific terms are not yet disclosed, creating uncertainty.

Analyst Insight

A smart investor would await the disclosure of the specific terms of the 'Material Definitive Agreement' before making any investment decisions, as the impact could be either positive or negative.

Key Players & Entities

• Plug Power Inc. (company) — the registrant filing the 8-K
• January 17, 2024 (date) — date of the earliest event reported and filing date
• The Nasdaq Capital Market (company) — exchange where Plug Power's common stock is registered
• $0.01 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• Plug Power will release further details about the Material Definitive Agreement. (Plug Power Inc.) — high confidence, target: Q1 2024
• The stock price of PLUG will react significantly once the details of the agreement are disclosed. (PLUG) — medium confidence, target: Upon disclosure

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock, par value $0.01 per share PLUG The Nasdaq Capital M
• $1.0 billion — ng an aggregate offering price of up to $1.0 billion (the "Shares"). Sales of the Shares un
• $10,000,000 — on a principal basis and purchase up to $10,000,000 of shares of its common stock as set fo
• $30,000,000 — ) in any calendar week shall not exceed $30,000,000. B. Riley will be entitled to receive

Filing Documents

• tm243485d1_8k.htm (8-K) — 30KB
• tm243485d1_ex1-1.htm (EX-1.1) — 280KB
• tm243485d1_ex5-1.htm (EX-5.1) — 9KB
• 0001104659-24-004468.txt ( ) — 554KB
• plug-20240117.xsd (EX-101.SCH) — 3KB
• plug-20240117_lab.xml (EX-101.LAB) — 33KB
• plug-20240117_pre.xml (EX-101.PRE) — 22KB
• tm243485d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 17, 2024, Plug Power Inc. (the "Company") entered into an At Market Issuance Sales Agreement (the "Sales Agreement") with B. Riley Securities, Inc. ("B. Riley"), pursuant to which the Company may, from time to time, offer and sell shares of the Company's common stock, par value $0.01 per share ("Common Stock"), having an aggregate offering price of up to $1.0 billion (the "Shares"). Sales of the Shares under the Sales Agreement, if any, will be made by any method that is deemed an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the "Securities Act"). The Shares will be offered through or to B. Riley, acting as agent in connection with agency transactions or as principal in connection with any principal transactions. The Company will have the right, but not the obligation, from time to time at its sole discretion over the 18-month period beginning on the date hereof to direct B. Riley on any trading day to act on a principal basis and purchase up to $10,000,000 of shares of its common stock as set forth in the Sales Agreement; provided, however only one principal sale may be requested per day, and in no event on consecutive calendar days, unless otherwise agreed to by B. Riley. Notwithstanding the foregoing, the aggregate amount of shares of common stock that the Company will direct B. Riley to sell as principal in principal transactions (inclusive of any shares sold by B. Riley in agency transactions) in any calendar week shall not exceed $30,000,000. B. Riley will be entitled to receive from the Company a commission in an amount (i) up to 3.0% of the gross sales price per Share sold through it as agent in agency transactions and (ii) equal to 5.0% of the purchase price per Share sold to B. Riley, as principal in principal transactions. The Company has agreed to provide B. Riley with customary indemnification and contribution rights. The Co

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Title 1.1 At Market Issuance Sales Agreement, dated January 17, 2024, by and between Plug Power Inc. and B. Riley Securities, Inc. 5.1 Opinion of Goodwin Procter LLP 23.1 Consent of Goodwin Procter LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded with the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Plug Power Inc. Date: January 17, 2024 By: /s/ Paul Middleton Name: Paul Middleton Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR