- Bloom Energy offers stock prices at $26 per piece.
- Bloom Energy celebrates its $200 million multi-gigawatt manufacturing facility in California.
Bloom Energy Corp, the developer of a solid-oxide platform for distributed generation (DG) of electricity and hydrogen, priced an underwritten public offering of common stock through which it seeks to raise $338 million gross. The company said it offers 13 million Class A common stock shares at $26.00.
In addition, it has granted the underwriters a 30-day option to purchase up to an additional 1.95 million shares at the same price, less underwriting discounts and commissions. The above-mentioned total amount of gross proceeds does not consider the possible exercising of this option.
Bloom Energy plans to use the net proceeds from the offering for general corporate purposes, including research and development (R&D), sales and marketing activities, general and administrative matters, and capital expenditures. It noted that the latter might include the repayment of some or all of our outstanding indebtedness.
A month ago, the company celebrated opening its $200 million multi-gigawatt manufacturing facility in its home state of California. In addition to its flagship fuel cell platform, Bloom Energy also offers electrolysers for green hydrogen production.