FuelCell Energy
Prices $30 Million Public Offering of Common Stock
FuelCell Energy,
Inc. (Nasdaq:FCEL) a leading manufacturer of
ultra-clean, efficient and reliable fuel cell power plants, announced today
that it has priced an underwritten public offering of 20,000,000 shares of its
common stock at a price to the public of $1.50 per share for gross proceeds of
approximately $30.0 million. The net proceeds from the sale of the shares,
after deducting the underwriters' discounts and other estimated offering
expenses payable by us, will be approximately $28.0 million. FuelCell has also granted the underwriters a 30-day option
to purchase up to an additional 3,000,000 shares of common stock offered in the
public offering to cover over-allotments, if any, which would result in additional
gross proceeds of approximately $4.5 million if exercised in full.�
FuelCell Energy
intends to use the net proceeds from this offering for growth capital and
general corporate purposes.� The offering is
expected to close on or about March 27, 2012, subject to the satisfaction of
customary closing conditions.� Lazard Capital
Markets LLC is acting as the sole book-running manager for the offering.� Stifel Nicolaus Weisel is acting as the
co-lead manager and FBR Capital Markets & Co. is acting as the co-manager
for the offering.�
A shelf
registration statement relating to the above-described securities was
previously filed with and declared effective by the Securities and Exchange Commission.� A preliminary prospectus supplement
related to the offering was filed with the Securities and Exchange Commission.� The securities may be offered only by
means of a prospectus, including a prospectus supplement, forming a part of the
effective registration statement. When available, copies of the final prospectus
supplement together with the base prospectus relating to this offering can be
obtained at the Securities and Exchange Commission's website http://www.sec.gov or from Lazard Capital Markets LLC, 30 Rockefeller
Plaza, 60th Floor, New York, NY 10020 or via telephone at (800)
542-0970.�
This
press release does not constitute an offer to sell or the solicitation of
offers to buy any securities of FuelCell Energy, and
shall not constitute an offer, solicitation or sale of any security in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.
About
FuelCell Energy
Direct FuelCell� power plants are generating ultra-clean,
efficient and reliable power at more than 50 locations worldwide.� With
over 180 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean
baseload distributed generation to utilities,
industrial operations, universities, municipal water treatment facilities,
government installations and other customers around the world.� The
Company's power plants have generated more than one billion kilowatt hours of
ultra-clean power using a variety of fuels including renewable biogas from
wastewater treatment and food processing, as well as clean natural gas.� For more information please visit our website
at www.fuelcellenergy.com
The FuelCell Energy, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3284