Bloom Energy Corporation Announces Closing of Public Offering of Class A Common Stock and Full Exercise of Underwriters'; Option to Purchase Additional Shares

Rhea-AI Summary

Bloom Energy Corporation (NYSE: BE) has closed an underwritten public offering of 14,950,000 shares of Class A common stock at a price of $26.00 per share, generating gross proceeds of $388.7 million. This offering included 1,950,000 shares from the underwriters' option to purchase additional shares. J.P. Morgan, Morgan Stanley, and BofA Securities served as joint book-running managers for the offering. The company aims to utilize the funds raised to further its mission of providing clean, reliable energy solutions.

Positive

• Gross proceeds of $388.7 million from the public offering can support business expansion.
• Increased capital may enhance Bloom Energy's ability to invest in clean energy technologies.

Negative

• Dilution of existing shareholders due to the issuance of additional shares.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Bloom Energy Corporation (NYSE: BE) today announced the closing of an underwritten public offering of 14,950,000 shares of Class A common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. The shares of Class A common stock issued and sold in the offering include 1,950,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Bloom Energy, were $388.7 million. All shares in the offering were offered by Bloom Energy.

J.P. Morgan, Morgan Stanley and BofA Securities acted as joint book-running managers for the offering. Baird, Cowen, Credit Suisse, KeyBanc Capital Markets, Oppenheimer & Co., Wells Fargo Securities, Raymond James and Tuohy Brothers acted as co-managers for the offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (SEC) on October 25, 2021, and automatically became effective upon filing. This offering was made solely by means of a prospectus. A copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at +1 (866) 803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom Energy’s solid oxide platform for distributed generation of electricity and hydrogen delivers highly reliable and resilient, always-on electric power that is clean, fuel flexible, cost-effective and ideal for microgrid applications. Bloom Energy’s solid oxide platform can also be used to produce zero carbon hydrogen. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities and other industries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220819005315/en/

Bloom Energy Investor Relations:

Ed Vallejo

+1 (267) 370-9717

edward.vallejo@bloomenergy.com

Bloom Energy Media Contact:

Jennifer Duffourg

+1 (480) 341-5464

jennifer.duffourg@bloomenergy.com

Source: Bloom Energy

FAQ

What is the size of the public offering by Bloom Energy on October 25, 2021?

Bloom Energy completed a public offering of 14,950,000 shares of Class A common stock.

What was the public offering price for Bloom Energy's shares?

The shares were offered at a public price of $26.00 each.

How much gross proceeds did Bloom Energy generate from the offering?

Bloom Energy raised gross proceeds of $388.7 million from the offering.

Who were the joint book-running managers for Bloom Energy's offering?

J.P. Morgan, Morgan Stanley, and BofA Securities acted as joint book-running managers.

What does the new funding from the offering aim to support for Bloom Energy?

The funding aims to support Bloom Energy's mission to provide clean and reliable energy solutions.