Plug Power seeks shareholder backing amid sub-$1 share price
US green hydrogen tech firm Plug Power has asked shareholders to approve more authorised shares and a potential reverse stock split to ensure it can continue to fund operations and grow as a company.
The move comes shortly after Plug logged over $970m in non-cash impairments and new cost-cutting measures in response to slow hydrogen market development and mounting financial challenges.
In a June 2 statement, the company warned that without an increase in authorised shares, it could struggle to raise capital, support partnerships, or pursue strategic initiatives critical to its long-term growth.
... to continue reading you must be subscribed
Subscribe Today
To gain access to this article and all our other content, you will need to subscribe to H2 View.
From the latest print editions, to 24/7 online access to exclusive interviews, authoritative columnists and the H2 View news archive, a subscription is the best way for you to stay up to date with developments in the hydrogen community.
