Document:

Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

Plug Power, Inc.

986 Albany Shaker Road

Latham, NY 12110

 

Ladies and Gentlemen:

 

The undersigned (the “Investor”) hereby confirms and agrees with Plug Power, Inc., a Delaware corporation (the “Company”) as follows:

 

1.                                      As of the Closing (as defined below) and subject to the terms and conditions hereof, the Investor will acquire from the Company and the Company will issue to the Investor such number of shares of common stock (individually a “Share” and collectively, the “Shares”), par value $0.01 per share, of the Company (the “Common Stock”) as is set forth on the signature page hereto (the “Signature Page”) for an issue price of $2.35 per Share.

 

2.                                      The closing is expected to occur on March 20, 2019 (the “Closing”) in accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), subject to the Company’s satisfaction of the closing conditions set forth in Section 5 hereof. The provisions set forth in Exhibit A hereto shall be incorporated herein by reference as if set forth fully herein.

 

3.                                      The offering and issue of the Shares (the “Offering”) are being made pursuant to the Registration Statement and the Prospectus (as such terms are defined below).

 

4.                                      The Company has filed with the Securities and Exchange Commission (the “Commission”) (i) a prospectus included in the registration statement (File No. 333-214737), which became effective on December 9, 2016 (the “Base Prospectus”), (ii) if applicable, a preliminary prospectus supplement related to the Offering (together with the Base Prospectus, the “Statutory Prospectus”) and (iii) if applicable, any issuer free writing prospectus as defined in Rule 433 under the Securities Act of 1933, as amended (the “Securities Act”), relating to the Shares and delivered to the Investor on or prior to the date hereof (the “Issuer Free Writing Prospectus”), and will file with the Securities and Exchange Commission (the “Commission”) a final prospectus supplement (together with the Base Prospectus, the “Prospectus”) with respect to the registration statement (File No. 333-214737) reflecting the Offering, including all amendments thereto, the exhibits and any schedules thereto, the documents otherwise deemed to be a part thereof or included therein by the rules and regulations of the Commission (the “Rules and Regulations”) and any registration statement relating to the Offering and filed pursuant to Rule 462(b) under the Rules and Regulations (collectively, the “Registration Statement”), in conformity with the Securities Act, including Rule 424(b) thereunder. The Base Prospectus, any Statutory Prospectus, any Issuer Free Writing Prospectus and the pricing information contained in this agreement are collectively referred to as the “Time of Sale Disclosure Package”.

 

5.                                      The Company’s obligation to issue the Shares to the Investor shall be subject to the receipt by the Company of the issue price for the Shares being acquired hereunder as set forth on the Signature Page and the accuracy of the representations and warranties made by the Investor and the fulfillment of those undertakings of the Investor to be fulfilled prior to the date of the Closing. The obligation of the Investor to purchase the Shares at Closing as provided herein is subject to the accuracy of the representations and warranties of the Company set forth in Section 8 below, to the performance by the Company of its covenants and other obligations hereunder, in each case in all material respects, and to the conditions set forth below, unless waived by the Investor in writing:

 

a)             As of the Closing, no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto has been issued under the Securities Act or the Exchange Act, no order preventing or suspending the use of any preliminary prospectus or the Prospectus has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company’s knowledge, contemplated; and the Company has complied in all material respects with each request (if any) from the Commission for additional information;

 

 

b)             At the Closing, there shall not have been, since the date hereof or since the respective dates as of which information is given in the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or prospects of the Company, whether or not arising in the ordinary course of business;

 

c)              The Company shall have filed a listing of additional shares notice with Nasdaq Stock Market, LLC (“NASDAQ”);

 

d)             The Company shall have delivered to the Investor a certificate of an authorized officer of the Company certifying that the representations and warranties of the Company set forth in Section 8 are true and correct in all material respects as of the Closing, and that the Company has performed and complied in all material respects with all covenants, agreements, obligation and conditions contained in this agreement that are required to be performed or complied with by the Company on or before the Closing; and

 

e)              The Secretary of the Company shall have delivered to the Investor a certificate certifying (i) the Bylaws of the Company, and (ii) resolutions of the Board approving this agreement and the transactions contemplated hereby.

 

6.                                      The Company shall, within the time period prescribed under the Exchange Act, file a Current Report on Form 8-K with the Commission, disclosing all material aspects of the transactions and the terms of the Offering contemplated hereby.

 

7.                                      The Investor represents that (i) it has had access to the Time of Sale Disclosure Package prior to or in connection with its receipt of this agreement, and (ii) it is acquiring the Shares for its own account, or an account over which it has investment discretion, and does not have any agreement or understanding, directly or indirectly, with any person or entity to transfer any of the Shares.

 

8.                                      Each of the Investor and the Company represents to the other that it has the requisite power and authority to enter into this agreement and to consummate the transactions contemplated hereby, that it has duly authorized, executed and delivered this agreement and, assuming due authorization, execution and delivery by the other party, this agreement constitutes a valid and binding obligation of such party enforceable against it in accordance with the terms of the agreement, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and except as to the enforceability of any rights to indemnification or contribution that may be violative of the public policy underlying any law, rule or regulation (including any federal or state securities law, rule or regulation). Each of the Investor and the Company represents to the other that the execution, delivery and performance by it of this agreement and any other agreements related to the Offering to which it is a party (collectively, the “Transaction Documents”) and the consummation by it of the transactions contemplated hereby and thereby do not and will not (x) conflict with or violate any provision of its certificate or articles of incorporation, bylaws or other organizational or charter documents, (y) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which it is subject (including federal and state securities laws and regulations) or by which any property or asset of the Investor is bound or affected or (z) in respect of the Company only, any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which the Company is a party or by which it may be bound or to which any of the properties or assets of the Company is subject, except in the case of clauses (y) and (z), such conflict or violation which would not reasonably be expected to have a material adverse effect on its ability to perform its obligations under the Transaction Documents. The Shares have been duly authorized for issuance and sale pursuant to this agreement and, when issued and delivered by the Company pursuant to this agreement against payment of the consideration set forth herein, will be validly issued and fully paid; and the issuance of the Shares is not subject to the preemptive or other similar rights of any shareholder of the Company. No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction over the Company or any of its properties, assets or operations is necessary or required for the performance by the Company of its obligations hereunder or the consummation of the transactions contemplated by this agreement, except such as have been already obtained or as may be required under the Securities Act, the Securities Act Regulations, the rules of NASDAQ, U.S. state securities laws or the rules of FINRA. The Time of Sale Disclosure Package, as of the time hereof and as of the Closing, does not contain, any untrue statement of a material fact or omit to state a material fact required to be stated

 

 

therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

9.                                      The Investor understands that nothing in this agreement, the Prospectus or any other materials presented or made available to the Investor in connection with the acquisition of the Shares constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its acquisition of Shares.

 

10.                               The Investor represents that neither the Investor nor any person acting on behalf of, or pursuant to any understanding with or based upon any material non-public information received from, the Investor has, directly or indirectly, as of the date of this agreement, engaged in any purchases or sales in the securities of the Company. The Investor covenants that neither it, nor any Person acting on behalf of, or pursuant to any understanding with or based upon any material non-public information received from, the Investor, will engage in any purchases or sales in the securities of the Company prior to the time that the transactions contemplated by this agreement are publicly disclosed. Notwithstanding the foregoing, in the case of an Investor and/or its affiliates that is, individually or collectively, a multi-managed investment bank or vehicle whereby separate portfolio managers manage separate portions of such Investor’s or affiliates assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Investor’s or affiliates assets, the representation set forth above shall only apply with respect to the portion of assets managed by the portfolio managers that have knowledge about the financing transaction contemplated by this agreement. The Investor acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits and schedules thereto) and all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof (collectively, the “SEC Reports”) and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. The acquisition by the Investor of the Shares will not result in such Investor (individually or together with any other person with whom such Investor has identified, or will have identified, itself as part of a “group” in a public filing made with the Commission involving the Company’s securities) acquiring, or obtaining the right to acquire, in excess of 20% of the outstanding Common Stock or the voting power of the Company. The Investor does not presently intend to, alone or together with others, make a public filing with the Commission to disclose that it has (or that it together with such other persons have) acquired, or obtained the right to acquire, as a result of such Closing (when added to any other securities of the Company that it or they then own or have the right to acquire), in excess of 20% of the outstanding Common Stock or the voting power of the Company on a post transaction basis that assumes that such Closing shall have occurred.

 

11.                               The Investor represents that, except as set forth below, (i) it has had no position, office or other material relationship within the past three years with the Company or persons known to it to be affiliates of the Company, (ii) it is not a FINRA member or an Associated Person (as such term is defined under FINRA Membership and Registration Rules) as of the date hereof, and (iii) neither it nor any group of investors of which it is a member, will beneficially own or have the right to acquire (including by virtue of beneficially owning securities convertible or exercisable for Common Stock), in the aggregate, 20% or more of the Common Stock outstanding or 20% of the voting power of the Company immediately after the consummation of the Offering.

 

Exceptions:

 

 

(If no exceptions, write “none.” If left blank, response will be deemed to be “none.”)

 

12.                               This agreement will involve no obligation or commitment of any kind until this agreement is accepted and countersigned by or on behalf of the Company. All covenants, agreements, representations and warranties herein will survive the execution of this agreement, the delivery of the Shares being acquired and the payment therefor. This agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and the Investor. This agreement will be governed by the internal laws of the State of New York. This agreement may be

 

 

executed in one or more counterparts, each of which will constitute an original, but all of which, when taken together, will constitute but one instrument. The Investor acknowledges and agrees that the Investor’s receipt of the Company’s counterpart to this agreement shall constitute written confirmation of the Company’s commitment to issue Shares to such Investor.

 

[Signature Page Follows]

 

 

INVESTOR SIGNATURE PAGE

 

Number of Shares: [     ]

 

Issue Price Per Share: $2.35

 

Aggregate Issue Price: $[     ]

 

Please confirm that the foregoing correctly sets forth the agreement between us by signing in the space provided below for that purpose.

 

Dated as of March 20, 2019

 

 

INVESTOR

 

 

By:

 

Print Name:

 

Title:

 

Name that Shares are to be registered under:

 

Mailing Address:

 

Taxpayer Identification Number:

Manner of Settlement: DWAC (see Exhibit A attached hereto)

 

Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained)

 

DTC Participant Number

 

Name of Account at DTC Participant being credited with the Shares

 

Account Number at DTC Participant being credited with the Shares

 

[Signature Page to Purchase Agreement]

 

 

Agreed and Accepted this day of March 20, 2019:

 

PLUG POWER, INC.

 

 

By:

 

Name:

 

Title:

 

Acquisitions of the Shares hereunder were made pursuant to a registration statement or in a transaction in which a final prospectus would have been required to have been delivered in the absence of Rule 172 promulgated under the Securities Act.

 

[Signature Page to Purchase Agreement]

 

 

EXHIBIT A

 

INSTRUCTIONS FOR SETTLEMENT

 

Unless otherwise agreed to by the Company and the Investor, the following instructions shall govern the delivery of funds and the transfer of the Shares:

 

1.               Delivery of Funds 

 

By NO LATER THAN 3:00 P.M. New York City time on March 20, 2019, wire the issue price for the Shares to the account of the Company using the wire transfer instructions below.

 

2.              Wire Transfer Instructions 

 

ABA No.:  [     ]

Swift:  [     ]

Account No.:  [     ]

Account Name:  [     ].

 

Please also coordinate with your financial institution to ensure that transaction fees are not inadvertently deducted from the wired funds prior to their receipt by the Company.

 

3.              Initiation of DWAC and Transfer of Shares 

 

The Shares will be sent from the Company’s transfer agent, Broadridge Corporate Issuer Solutions, Inc., by DWAC to your prime broker. You must contact your prime broker and ask them to initiate the DWAC or you will not receive the Shares. The Shares will only be released after the Company’s receipt of the funds.Exhibit 10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 4 dated as of March 20, 2019 (this “Amendment”), to the CREDIT AGREEMENT dated as of
January 21, 2016 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Credit Agreement),
among CROWN CASTLE INTERNATIONAL CORP., a Delaware corporation (the “Borrower”), the LENDERS and ISSUING BANKS party thereto and JPMORGAN CHASE BANK, N.A. (“JPMorgan”), as Administrative Agent (the
“Administrative Agent”). 
 WHEREAS, the Borrower has requested that the Lenders agree to amend the Credit Agreement in
the manner set forth herein; and 
 WHEREAS, the Lenders party hereto are willing to agree to the requested amendment as set forth herein.

 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency
and receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows: 

SECTION 1. Rules of Interpretation. The rules of interpretation set forth in Section 1.03 of the Credit Agreement are hereby
incorporated by reference herein, mutatis mutandis. 
 SECTION 2. Amendment to Credit Agreement. Section 4.02(a)
of the Credit Agreement is hereby amended by inserting the text “(with respect to any Revolving Borrowing, excluding Sections 3.04(d) and 3.06(a)(i) of this Agreement)” immediately after the text “set forth in the Loan Documents”
in such Section. 
 SECTION 3. Representations and Warranties. The Borrower represents and warrants to the Administrative Agent and
to each of the Lenders and Issuing Banks that: 
 (a) This Amendment has been duly authorized, executed and delivered by the Borrower and
each of this Amendment and the Credit Agreement, as amended hereby, constitutes its legal, valid and binding obligation, enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

(b) The representations and warranties of the Borrower set forth in the Loan Documents are true and correct in all material respects (or, in
the case of representations and warranties qualified as to materiality, in all respects) on and as of the Amendment Effective Date (as defined below), except in the case of any such 

  
 2 

 

 representation and warranty that expressly relates to a prior date, in which case such representation and
warranty is true and correct in all material respects (or in all respects, as applicable) as of such earlier date. 
 (c) At the time of
and immediately after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing. 
 SECTION 4.
Effectiveness. This Amendment shall become effective as of the date first above written (the “Amendment Effective Date”) when: 

(a) the Administrative Agent shall have received counterparts of this Amendment that, when taken together, bear the signatures of
(i) the Borrower, (ii) the Required Lenders, (iii) the Majority in Interest of the Revolving Lenders and (iv) each Issuing Bank; 

(b) each of the representations and warranties set forth in Section 3 hereof shall be true and correct; and 

(c) the Administrative Agent shall have received payment of all expenses required to be paid or reimbursed by the Borrower under or in
connection with this Amendment, including those expenses set forth in Section 8 hereof. 
 SECTION 5. Credit Agreement. Except
as expressly set forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or the Borrower under the Credit
Agreement or any other Loan Document and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are
ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower to any future consent to, or waiver, amendment, modification or other change of, any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. After the Amendment Effective Date, any reference in the Loan Documents to the Credit Agreement shall mean the
Credit Agreement as modified hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 

SECTION 6. Applicable Law; Waiver of Jury Trial. (a) THIS AMENDMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION
(WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTION 9.10 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL
HEREIN. 

  
 3 

 

 SECTION 7. Counterparts; Amendment. This Amendment may be executed in counterparts (and
by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by
facsimile transmission or other electronic imaging shall be effective as delivery of an original executed counterpart of this Amendment. This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by
the Borrower, the Administrative Agent, the Issuing Banks, and the Lenders party hereto. 
 SECTION 8. Expenses. The Borrower agrees
to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment to the extent required under Section 9.03 of the
Credit Agreement. 
 SECTION 9. Headings. The Section headings used herein are for convenience of reference only, are not part of
this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment. 
 [Signature
Pages Follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized officers as of the day and year first written above. 
  

					
	CROWN CASTLE INTERNATIONAL CORP., as the Borrower
		
	By	 	 /s/ Kenneth J. Simon

		 	Name:	 	Kenneth J. Simon
		 	Title:	 	SVP and General Counsel

 [Fourth Amendment Signature Page] 

 
					
	JPMORGAN CHASE BANK, N.A., as Administrative Agent, a Lender and an Issuing Bank
		
	By	 	 /s/ Bruce Borden

		 	Name:	 	Bruce Borden
		 	Title:	 	Executive Director

 [Fourth Amendment Signature Page] 

 
					
	BANK OF AMERICA, N.A., as a Lender and an Issuing Bank
		
	By	 	 /s/ Kyle Oberkrom

		 	Name:	 	Kyle Oberkrom
		 	Title:	 	Associate

 [Fourth Amendment Signature Page] 

 [Lender Signature Pages on File with the Administrative Agent] 

[Fourth Amendment Signature Page]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]