05:22 PM EDT, 07/18/2024 (MT Newswires) -- Plug Power ( PLUG ) said late Thursday it launched a $200 million public offering of common shares.

The company plans to grant a 30-day overallotment option to the underwriters to acquire up to $30 million of additional shares.

Plug Power ( PLUG ) said it intends to use the net proceeds for general corporate purposes.

The company's shares were down nearly 10% in after-hours activity.

Price: 2.6297, Change: -0.29, Percent Change: -9.94