UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 17, 2017
PLUG POWER INC.
(Exact name of registrant as specified in charter)
Delaware |
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1-34392 |
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22-3672377 |
(State or Other |
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(Commission File Number) |
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(IRS Employer |
968 Albany Shaker Road, Latham, New York 12110
(Address of Principal Executive Offices) (Zip Code)
(518) 782-7700
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events
On May 17, 2017, Andy Marsh, the Chief Executive Officer of Plug Power Inc. (the Company), published on the Companys website a blog post that reiterated certain previously disclosed information, including financial guidance. A copy of the blog post is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
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Title |
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99.1 |
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Blog Post, dated May 17, 2017 |
Exhibit 99.1
Reiterating Guidance from Andy Marsh
There has been some misinformation circulated today and Id like to take the opportunity to clarify our plans for this year.
1. We have provided the following guidance for the Company in February of 2017, and reiterated the metrics in March, April and May.
Metric |
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2017 Guidance |
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Revenue (GAAP) |
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Total: |
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$130 million |
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Shipments |
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Total |
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PPA |
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GenDrive |
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5,600 |
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1,800 |
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GenFuel Sites |
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25 |
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9 |
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ProGen Mods. |
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100 |
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N/A |
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Gross Margin (GAAP) |
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· 8% - 12% |
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Bookings |
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· $325 million |
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Cash |
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· $25-$35 million of net cash used in operating and investing activities |
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2. Our shipping plans for Walmart have not changed, as indicated by our projections of 1,800 units shipped under PPA agreements.
3. The strike price and number of Amazon warrants remains the same as announced on April 5, 2017.
4. The recent announcements with major customers have increased new customer interest in our products, across the board.
5. In 2017, the vast majority of our new units will be shipped with Plug Power-designed and manufactured fuel cell stacks.
I hope this clarifies any misunderstandings.
Andy Marsh, CEO of Plug Power
Posted: May 17, 2017 in Blog