Davis Polk advised the representatives of the several underwriters in connection with the SEC-registered offering of 46,000,000 shares of common stock of Plug Power Inc. for approximately $126.5 million before underwriting discounts and estimated expenses of the offering. Included in the shares are 6,000,000 shares sold by Plug Power pursuant to the underwriters' exercise in full of their option to purchase additional shares. The common stock is listed on the Nasdaq Capital Market under the symbol "PLUG."
Plug Power is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Plug Power is based in Latham, New York.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associate Jaryn S. Fields. The tax team included partner Po Sit and associate Sunny Kim. Associate Jay Frankel provided intellectual property and technology advice. Counsel Loyti Cheng and David A. Zilberberg and associate Cristina Harshman provided environmental advice. All members of the Davis Polk team are based in the New York office.