SK Inc. Group Amends Plug Power Stake Filing

Ticker: PLUG · Form: SC 13D/A · Filed: 2024-11-06T00:00:00.000Z

Sentiment: neutral

Topics: ownership-change, sec-filing, amendment

Related Tickers: PLUG

TL;DR

SK Inc. group updated their Plug Power (PLUG) filing, showing continued significant interest.

AI Summary

SK Inc. and its affiliates, including Grove Energy Capital LLC, have amended their Schedule 13D filing regarding Plug Power Inc. (PLUG) as of November 6, 2024. The filing indicates a change in beneficial ownership, with SK Inc. and its group members collectively holding a significant stake in Plug Power. Specific details on the exact percentage or number of shares are not immediately clear from this excerpt but suggest a substantial investment.

Why It Matters

This amendment signals a potential shift in the ownership structure or investment strategy of a major Korean conglomerate concerning a key player in the hydrogen fuel cell market.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts or increased influence by major shareholders, impacting stock price and corporate strategy.

Key Players & Entities

FAQ

What is the specific change in beneficial ownership reported in this SC 13D/A filing?

The filing is an amendment (Amendment No. 2) to a Schedule 13D, indicating a change in beneficial ownership, but the exact details of the change are not provided in this excerpt.

Who are the primary entities filing this amendment?

The primary entities filing are SK Inc. (formerly known as SK Holdings Co., Ltd.) and its affiliates, including Grove Energy Capital LLC, Passkey, Inc., Plutus Capital NY, Inc., Pnes Investments, LLC, SK E&S Americas, Inc., SK E&S Co., Ltd., and SK Innovation Co., Ltd.

What is the subject company of this filing?

The subject company is Plug Power Inc. (PLUG).

When was this filing made and what is the date of change?

The filing was made on November 6, 2024, and the date of change is also November 6, 2024.

What is the business address and phone number for Plug Power Inc.?

The business address for Plug Power Inc. is 125 Vista Boulevard, Slingerlands, NY 12159, and the business phone number is 518-782-7700.

From the Filing

0001104659-24-114776.txt : 20241106 0001104659-24-114776.hdr.sgml : 20241106 20241106160119 ACCESSION NUMBER: 0001104659-24-114776 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20241106 DATE AS OF CHANGE: 20241106 GROUP MEMBERS: PASSKEY, INC. GROUP MEMBERS: PLUTUS CAPITAL NY, INC. GROUP MEMBERS: PNES INVESTMENTS, LLC GROUP MEMBERS: SK E&S AMERICAS, INC. GROUP MEMBERS: SK E&S CO., LTD. GROUP MEMBERS: SK INC. (FORMERLY KNOWN AS SK HOLDINGS CO., LTD.) GROUP MEMBERS: SK INNOVATION CO., LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PLUG POWER INC CENTRAL INDEX KEY: 0001093691 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 223672377 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-57471 FILM NUMBER: 241430771 BUSINESS ADDRESS: STREET 1: 125 VISTA BOULEVARD CITY: SLINGERLANDS STATE: NY ZIP: 12159 BUSINESS PHONE: 5187827700 MAIL ADDRESS: STREET 1: 125 VISTA BOULEVARD CITY: SLINGERLANDS STATE: NY ZIP: 12159 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Grove Energy Capital LLC CENTRAL INDEX KEY: 0001844540 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 55 EAST 59TH ST. 11TH FL. CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-583-2430 MAIL ADDRESS: STREET 1: 55 EAST 59TH ST. 11TH FL. CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 tm2427577d1_sc13da.htm SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Plug Power Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 72919P202 (CUSIP Number) Wonsang Cho SK Inc. (formerly known as SK Holdings Co., Ltd.) 26, Jong-ro, Jongno-gu Seoul, The Republic of Korea Tel: +82-2-2121-5114 with a copy to: Albert Chung Baker McKenzie & KL Partners Joint Venture Law Firm 17/F, East Wing, Signature Tower 100 Cheonggyecheon-ro Jung-gu Seoul, The Republic of Korea Tel: +82-2-6137-6800 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 4, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨ Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 72919P202 1 NAMES OF REPORTING PERSONS Grove Energy Capital LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 54,966,188 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 54,966,188 11 AGGREGATE AMOUNT BENEFI

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