Shares of Plug Power Inc (NASDAQ:PLUG) are trading lower Thursday morning as investors weigh a significant financing deal against recent operational and leadership news. Here’s what investors need to know.
What To Know: The hydrogen technology company’s stock fell after it announced a warrant inducement agreement on Wednesday. The deal allows an institutional investor to exercise warrants for 185.4 million shares at $2.00 each, providing Plug Power with roughly $370 million in immediate gross proceeds. However, it also grants new warrants that, if fully exercised, could raise an additional $1.4 billion, creating concerns about near-term shareholder dilution.
