Summary by Moomoo AI
On January 17, 2024, Plug Power Inc. announced the entry into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. The agreement allows Plug Power to offer and sell shares of its common stock up to an aggregate offering price of $1.0 billion. Sales may be conducted through 'at the market offerings' as defined by the Securities Act of 1933. The company has the discretion to direct sales on any trading day within an 18-month period, with certain limitations on the frequency and amount of shares sold. B. Riley will receive a commission for its services, and the agreement includes customary indemnification and expense reimbursement clauses. The shares will be issued under Plug Power's automatic shelf registration statement, which was effective as of June 8, 2023, and a prospectus supplement filed on the same date as the agreement. The Sales Agreement is subject to termination under specific conditions, including the sale of all shares or the expiration of the agreement's term.