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FuelCell Energy, Inc. Announces Completion Of Investment By South Korean Partner


Wednesday, 2 May 2012 08:30am EDT 

FuelCell Energy, Inc. announced the completion of the previously announced $30 million investment by POSCO Energy. Under the terms of the agreement, POSCO Energy purchased 20,000,000 shares of FCEL common stock at a price of $1.50 per share for proceeds of $30 million. Proceeds will be used for growth capital and general corporate purposes. The investment agreement was concluded at the end of FuelCell Energy's second quarter and the proceeds were received at the beginning of third quarter. Combined with prior holdings, this investment brings POSCO Energy's common stock ownership percentage in the Company to approximately 16.6%. 

Company Quote

2.45
0.06 +2.51%
17 Apr 2014