Danbury, Conn.-Based FuelCell Energy Plans Private Stock Offering
Nov. 11FuelCell Energy Inc. of Danbury said Wednesday it plans a private offering of $75 million in preferred convertible stock to help finance development and commercialization of its fuel cell power generators.
The company said it also intends to give the purchaser of the stock the right to buy another $50 million worth of the preferred shares within 75 days. FuelCell Energy was up 3 cents to $11.62 during the regular trading day on Wednesday, but its shares dropped by about 7 percent after the upcoming stock sale was announced.
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