Bloom Energy Corporation Announces Pricing of $402.5M Green Convertible Senior Notes Offering

Details

The issuance and sale of the Notes are scheduled to settle on May 29, 2024. Bloom Energy granted the initial purchasers an option to purchase up to an additional $52.5 million principal amount of Notes. Bloom Energy intends to use approximately $141.8 million of the net proceeds from the offering to repurchase $115.0 million aggregate principal amount of its outstanding 2.50% Green Convertible Senior Notes due 2025 in privately negotiated transactions concurrently with the pricing of the offering. The remaining net proceeds will be used for general corporate purposes.

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About Bloom Energy Corporation

Bloom Energy Corporation focuses on providing advanced energy solutions through the development and manufacture of innovative solid oxide fuel cells. These fuel cells are part of a proprietary system known as the Bloom Energy Server, which transforms natural gas or biogas into electricity efficiently and cleanly. Aimed primarily at large-scale commercial and industrial clients, Bloom Energy not only enables businesses to generate their own on-site electricity but also supports sustainability goals by significantly reducing emissions compared to traditional energy sources. Founded in 2001 and headquartered in San Jose, California, the company plays a critical role in the shift towards clean energy, impacting sectors such as technology, healthcare, and retail. Bloom Energy's solutions promote energy independence and resilience by offering reliable power that is less susceptible to grid disruptions, underscoring its importance in the modern energy landscape.