India, July 8 -- FuelCell Energy Inc. (FCEL), a fuel cell technology company, on Tuesday priced its upsized underwritten public offering of 10.71 million shares at $21 per share.
The offering is expected to close on July 9.
The offering is expected to raise gross proceeds of about $225 million, before underwriting discounts, commissions and offering expenses.
The offering was upsized from the previously announced $200 million offering.
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The company granted the underwriters a 30-day option to purchase up to an additional 1.61 million shares at the public offering price.
The company intends to use the net proceeds for capital expenditures related to expa...