Plug Power (PLUG) Eyes Expansion in Energy Markets, TD Cowen Maintains Buy

TD Cowen claims that Plug Power Inc. (NASDAQ:PLUG) remains focused connected execution successful bid to turn its material-handling and electrolyzer businesses portion moving person to profitability.

The steadfast besides pointed retired that the banal terms has suffered arsenic a effect of Plug Power’s announcement of a convertible offering pursuing marketplace close, which was chiefly meant to refinance 15% of the company’s debt.

Plug Power Inc. (NASDAQ:PLUG) announced the pricing of a $375 cardinal convertible elder notes issuance scheduled for 2033 astatine a 6.75% rate. The institution estimates nett proceeds of astir $347.2 cardinal from this transaction.

Plug Power Inc. (NASDAQ:PLUG) provides alternate vigor exertion focusing connected the development, design, manufacturing, and commercialization of hydrogen and substance compartment systems that are chiefly employed for the worldly handling and stationary powerfulness markets.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.