April 29, 2025 – (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a top 100 rated investment site for retail investors following hydrogen and fuel cell stocks issues a trading and news alert for Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solution
The stock made big gains on Monday following news, closing up over 25% on the day and is continuing its gains today, The stock is trading at 1.0450, up 0.0250, gaining 2.4510%.
Plug Power Inc. just announced it has signed a definitive agreement for a secured debt facility and achieved key operational and financial milestones that support its path toward profitability and long-term growth.
Up to $525 Million Yorkville Credit Facility and Retirement of Dilutive Debenture
Plug has signed a definitive agreement for a secured debt facility with Yorkville Advisors providing for the issuance of up to $525 million of secured debentures. The facility includes an initial $210 million tranche, which will be fully funded at the initial closing and additional tranches of up to $315 million. The initial tranche is expected to close on or around May 2, 2025. With the net proceeds from the initial tranche, Plug intends to use approximately $82.5 million to retire the majority of its existing convertible debenture principal outstanding with Yorkville, which has approximately 55 million associated underlying shares given the conversion price and therefore this refinancing will reduce potential dilution.
Preliminary Q1 2025 Results and Strengthened Financial Position
Plug will be reporting its first quarter of 2025 results in early May. Plug expects to report revenue of approximately $130 million to $134 million for the first quarter of 2025. Plug expects second quarter revenue in the range of $140 million to $180 million.
Plug expects net cash usage for Q1 2025 to be approximately $142 million compared to $268 million in Q1 2024. Net cash usage represents the change in unrestricted cash and cash equivalents, less proceeds from public and private offerings, net of transaction costs, and excludes principal payments of convertible instruments. Plug anticipates additional near-term reductions to net cash usage driven by hydrogen plant ramp-ups, additional cost downs, and additional price increases. The net cash usage for the first quarter 2025 could have been lower given the Company has been working with a key customer on a major price change and program enhancement which is effective from January 1, 2025 onwards. The Company agreed to delay first quarter collections to allow time for finalizing the contracts and invoices. The Company finalized the program during the 2nd quarter which positions the Company to drive higher revenue and improved cash flows going forward.
Full news
https://finance.yahoo.com/news/plug-power-secures-credit-facility-142753059.html
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