Davis Polk advised the representative of the several underwriters in connection with the SEC-registered offering of 30,675,000 shares of common stock of Plug Power Inc. for approximately $314.4 million before underwriting discounts and estimated expenses of the offering. 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 manufacturing 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 associates Chris Van Buren and Edward Peck. The tax team included partner Po Sit and associate Sunny Kim. Associate S. Dream Montgomery provided intellectual property and technology advice. Counsel Loyti Cheng and associate Alexandra Munson provided environmental advice. All members of the Davis Polk team are based in the New York office.