FCEL · FuelCell Energy, Inc.

FuelCell Energy entered into an underwriting agreement on July 7, 2026, for a public offering of common stock. The offering consisted of 10,714,286 shares priced at $21.00 per share, with underwriters receiving a 30-day option to purchase an additional 1,607,143 shares, which was fully exercised the following day. The gross proceeds, including the overallotment, are approximately $258.75 million, with net proceeds of about $245.4 million after underwriting discounts and expenses. The company intends to use the net proceeds for capital expenditures related to expanding manufacturing capacity to support growth, working capital, and general corporate purposes. The offering closed on July 9, 2026. This capital raise provides significant liquidity to fund FuelCell Energy's growth initiatives, particularly in manufacturing capacity expansion, which is critical for scaling its fuel cell technology. The involvement of multiple underwriters, including Citigroup and Barclays as joint book-running managers, indicates strong institutional support. The transaction is a material event as it substantially increases the company's equity base and provides resources for strategic investments.