Plug Power Closes $525 Million Secured Credit Facility with Yorkville Advisors
SLINGERLANDS, N.Y., May 06, 2025 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced the initial closing of its previously announced $525 million secured term loan facility with Yorkville Advisors. The initial tranche in an aggregate principal amount of $210 million was drawn and funded. Commensurate with establishing this facility, the company has retired $82.5 million in aggregate principal of the existing convertible debenture with Yorkville Advisors, which had approximately 55 million associated underlying shares given the conversion price, and therefore this refinancing has reduced potential dilution. The transaction enhances Plug’s liquidity position and provides the company with additional financial flexibility as it continues to scale its green hydrogen network and drive toward profitability.
Andy Marsh, CEO of Plug, said :
This financing provides meaningful capital to support Plug’s strategic priorities in 2025 and beyond,
“We appreciate the confidence Yorkville has shown in our long-term vision and are pleased to have closed this deal under favorable terms for the company.”
Plug will provide further details during its upcoming first quarter 2025 earnings call.
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Plug Power Closes $525 Million Secured Credit Facility with Yorkville Advisors, source
