- Press Releases
August 17 (Renewables Now) - Bloom Energy Corp (NYSE:BE), the developer of a solid-oxide platform for distributed generation (DG) of electricity and hydrogen, on Tuesday priced an underwritten public offering of common stock through which it seeks to raise USD 338 million (EUR 333.6m) gross.
The company said in a statement it is offering 13 million shares of Class A common stock at USD 26.00 apiece.
In addition, it has granted the underwriters a 30-day option to purchase up to an additional 1.95 million shares at the same price, less underwriting discounts and commissions. The above-mentioned total amount of gross proceeds does not take into consideration the possible exercising of this option.
The offering is expected to close on August 19, 2022. JP Morgan, Morgan Stanley and BofA Securities serve as joint book-running managers.
Bloom Energy plans to use the net proceeds from the offering for general corporate purposes, including research and development (R&D) and sales and marketing activities, general and administrative matters and capital expenditures. The latter may include the repayment of some or all of our outstanding indebtedness, it noted.
A month ago, the company celebrated the opening of its USD-200-million multi-gigawatt manufacturing facility in its home state of California. In addition to its flagship fuel cell platform, Bloom Energy also offers electrolysers for green hydrogen production.
(USD 1 = EUR 0.987)