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Clean energy solutions provider FuelCell Energy (FCEL) has priced an upsized underwritten public offering of 10.71 million shares of its common stock at a public offering price of $21 per share. The $225 million in gross proceeds is expected to fund capital expenditures as the company tries to expand its manufacturing capacity to power data centers. Although the rationale was to support future growth, the market did not take kindly to the news, as the stock dropped 13.2% intraday on July 8.
