The clean energy company set the offering price at $21.00 per share, increased the deal from $200 million and expects to close it on or about July 9, 2026.
FuelCell Energy priced an upsized underwritten public offering of 10,714,286 common shares at $21.00 each, raising expected gross proceeds of $225 million before underwriting discounts, commissions and other expenses. The deal was increased from the previously announced $200 million offering, with all shares being sold by the company. FuelCell Energy said it expects the offering to close on or about July 9, 2026, subject to customary closing conditions, and granted underwriters a 30-day option to buy up to 1,607,143 additional shares at the public offering price, less underwriting discounts and commissions. The company said it plans to use net proceeds for capital expenditures tied to expanding manufacturing capacity to support growth, as well as for working capital and general corporate purposes. Citigroup and Barclays are acting as joint book-running managers, with Oppenheimer & Co., RBC Capital Markets and Goldman Sachs & Co. LLC also serving as joint book-running managers and Canaccord Genuity, B. Riley Securities, BMO Capital Markets, Siebert Williams Shank and Tuohy Brothers acting as co-managers.