Editor's Note: This is an updated version of an earlier report.
Danbury alternative-energy equipment maker FuelCell Energy Inc. plans to issue raise $30 million in capital for corporate purposes and growth, a regulatory filing shows.
FuellCell said in its 8-K filing with the Securities and Exchange Commission that it will issue 20 million common shares at $1.50 apiece, plus another 3 million shares to cover over-allotments.
FuelCell said it expects to net about $28 million, after deducting underwriting fees and expenses.
Lazard Capital Markets LLC is acting as the sole book-running manager for the offering. Stifel Nicolaus Weisel is co-lead manager and FBR Capital Markets & Co. is co-manager.
Hartford law firm Robinson & Cole LLP has issued a legal opinion related to the offering.
FuelCell makes chemical-reactant fuel cells capable of generating electricity and heat.