LOL: Equityfinanciering door Yorkville (nog bekend van Pharming's 1 centen koers):
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Investors
Plug Power Signs $1 Billion Equity Purchase Agreement with Yorkville Advisors
FCW Team
By
February 10, 2025 at 1:19 PM EDT
Image: Plug Power
Plug Power has formalized a standby equity purchase agreement with Yorkville Advisors, providing an option to sell up to $1 billion in shares. The deal empowers Plug Power with financial flexibility through controlled stock sales until February 2027.
Plug Power Inc. announced a significant financial maneuver with the execution of a standby equity purchase agreement with an investment entity managed by Yorkville Advisors Global. This agreement, formalized on February 10, 2025, allows Plug Power the potential to sell shares worth up to $1 billion to the YA II PN fund, based on market conditions and company needs.
Under the terms of the agreement, Plug Power retains full authority over whether and when to sell its shares, underscoring its strategic control over funding operations. The company is not obligated to sell any shares unless certain conditions, such as effective SEC registration, are met, granting them a significant leverage in managing capital flow.
Sales can reach up to $10 million per day, with the purchase price pegged at 95% of the daily volume weighted average price of Plug Power’s common stock. This setup ensures that the company can dictate the pace and amount of equity sold, aligning with its operational and financial strategies.
The agreement is slated to conclude by February 10, 2027, or earlier if the total $1 billion in shares is sold. Plug Power also has safeguarded its interests by including standard representations, warranties, and indemnification obligations in the agreement.
As part of the deal, Plug Power has already paid Yorkville Advisors a commitment fee of $1 million. The proceeds from any stock sales under this agreement are intended for general corporate purposes and working capital, reflecting Plug Power’s ongoing commitment to bolstering its financial base and operational capabilities.