Plug Power Inc. Announces Pricing of Offering of $375.0 Million of 6.75% Convertible Senior Notes

SLINGERLANDS, N.Y., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG) today announced the pricing of $375.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2033 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Plug Power also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $56.25 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to close on November 21, 2025, subject to customary closing conditions, and is expected to result in approximately $347.2 million (or approximately $399.4 million if the initial purchasers exercise their option to purchase additional notes in full) in net proceeds to Plug Power after deducting the initial purchasers’ discount and estimated offering expenses payable by Plug Powe