**Plug Power Inc. Increases Aggregate Gross Sales Price and Extends Agreement with B. Riley**

On November 7, 2024, Plug Power Inc. (NASDAQ:PLUG) filed a Form 8-K with the Securities and Exchange Commission (SEC), indicating significant developments in their financial agreements. The company entered into an Amendment No. 2 to the Sales Agreement with B. Riley Securities, Inc. This amendment allows for an increase in the aggregate gross sales price of shares of the company’s Common Stock available for issuance under the Sales Agreement.

As of November 7, 2024, Plug Power had sold approximately 219,835,221 shares of Common Stock, with an aggregate gross sales price of around $677,245,001 under the Sales Agreement. With the newly implemented Amendment No. 2, this aggregate gross sales price has been elevated by approximately $375,171,995 to a total of $1 billion.

Moreover, Amendment No. 2 grants Plug Power the right, at its sole discretion, to direct B. Riley to act on a principal basis and purchase from the Company up to $11,000,000 and up to $55,000,000 in any calendar week, subject to certain conditions. This agreement extends the Company’s right to direct B. Riley up to December 31, 2025.

Additionally, as part of the agreement, Plug Power has agreed to reimburse B. Riley for legal expenses up to $25,000 related to the amendment. The material terms and conditions of the Sales Agreement otherwise remain unchanged.

The Shares under this agreement will be issued pursuant to Plug Power’s automatic shelf registration statement on Form S-3, and respective prospectus supplements filed with the SEC. For further details on the Amendment No. 2 agreement, interested parties are directed to refer to the full text of the document filed as Exhibit 1.1.

This communication serves as an announcement of the financial changes within Plug Power Inc., reflecting the enhancements made to its existing Sales Agreement with B. Riley Securities, Inc.

This report does not constitute an offer to sell or solicit any securities and highlights the revised terms under the amended agreement for the benefit of investors and interested parties.

The 8-K filing further contains details of the financial statements and relevant exhibits related to Plug Power Inc.’s recent transactions and agreements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Plug Power’s 8K filing here.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.