India, July 8 -- FuelCell Energy, Inc. (FCEL) shares fell 11.69 percent to $22.92, down $3.03 on Wednesday from the previous close of $25.96, possibly after the company priced an upsized underwritten public offering of 10.71 million common shares at $21.00 per share yesterday.
The stock opened at $21.18 and traded between $20.60 and $23.34 during the session on the Nasdaq. Trading volume reached 10.14 million shares, compared with an average daily volume of 11.28 million shares.
The offering, increased from the initially announced $200 million, is expected to raise gross proceeds of approximately $225 million before underwriting discounts and expenses. FuelCell Energy also granted the underwriters a 30-day option to purchase up to an addi...