Summary by Moomoo AI
On March 20, 2024, Plug Power Inc. completed a significant financial transaction involving the issuance of new debt securities. The company, based in Latham, New York, issued $140,396,000 in 7.00% Convertible Senior Notes due 2026 in exchange for $138,816,000 of its 3.75% Convertible Senior Notes due 2025, including accrued interest. This exchange resulted in the cancellation of the 2025 Notes. Following the transaction, approximately $58.5 million of the 2025 Notes remain outstanding. The new notes will pay interest semi-annually and are set to mature on June 1, 2026, unless converted or redeemed earlier. They rank senior to any subordinated debt and equal to other liabilities, but are junior to secured debt and structurally subordinated to liabilities of subsidiaries. The notes are convertible under certain conditions and may be redeemed by the company...Show More