Four major shareholders in Danbury clean-power generator FuelCell Energy Inc. are making $3.4 million in stock available to the public, a regulatory filing shows.
The Gas Technology Institute in Illinois, the Electric Power Research Institute in California, Materials and Systems Research in Utah, and the University of Utah Research Foundation are putting a combined 3.5 million shares on the market, which FuelCell has priced at 97 cents each, according to FuelCell’s latest filing with the Securities and Exchange Commission
The stock traded on Nasdaq at 97.2 apiece in late-morning trading Thursday morning.
FuelCell won’t collect any proceeds from the offering, the filing said. It will have 189.5 million shares outstanding after the sale.
The 3.5 million shares are part of FuelCell’s buyout of Colorado fuel cell manufacturer Versa Power Systems in December. The four shareholders putting their stock on the market were Versa shareholders who were compensated with FuelCell stock.
The company manufactures fuel cells that rely on chemical reactions to generate electricity and waste heat.
