04:21 PM EST, 11/18/2025 (MT Newswires) -- Plug Power ( PLUG ) said late Tuesday it plans a $375 million private offering of convertible senior notes due 2033, with an option for an additional $56.25 million.

The company said it will use about $243 million of the proceeds to repay its 15% secured debentures and the remainder to repurchase part of its 2026 convertible notes and for general corporate purposes.

Shares of the company were down 20% in after-hours activity.