FuelCell Energy entered into an underwriting agreement for a public offering of common stock, expected to generate approximately $245.4 million in net proceeds. The offering, priced at $21.00 per share, includes the full exercise of the underwriters' option to purchase additional shares. The company plans to use the capital to fund the expansion of its manufacturing capacity and for general corporate purposes.
Key Details
- Offering Terms: The offering consists of 10,714,286 shares of common stock, plus the underwriters' full exercise of their 30-day option to purchase an additional 1,607,143 shares.
- Pricing and Proceeds: Shares were priced to the public at $21.00 each. The company anticipates approximately $245.4 million in net proceeds after underwriting discounts and commissions.
- Use of Funds: Proceeds are allocated for capital expenditures to expand manufacturing capacity, as well as for working capital and general corporate purposes.
- Timeline: The underwriting agreement was signed on July 7, 2026, and the offering is expected to close on July 9, 2026.