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LATHAM, N.Y., March 11, 2014 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced the completion of its previously announced underwritten registered offering of 3,902,440 shares of its common stock. The shares were sold at a price to the public of $5.74 per share for gross proceeds of approximately $22.4 million. The shares were placed with a single investor.
Cowen and Company, LLC acted as the sole underwriter for the offering.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by Plug Power were approximately $21.5 million.
Plug Power intends to use the net proceeds of the offering for working capital and other general corporate purposes, including capital expenditures.
www.cnbc.com/id/101484469