Fluence Energy, Inc. Announces Pricing of Upsized Offering of $350.0 Million of Convertible Notes and Capped Call Transactions
Summary
ARLINGTON, Va., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (Fluence or the Company), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, today announced that it has upsized and priced an offering of $350.0 million aggregate principal amount of 2.25% convertible senior notes due 2030 (the Notes). From and after March 15, 2030, noteholders may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The capped call transactions will cover, subject to customary adjustments, the number of shares of the Companys Class A common stock that will initially underlie the Notes. The effect, if any, of these transactions and activities on the market price of the Class A common stock or the Notes will depend in part on market conditions and cannot be ascertained at this time, but any of these activities could adversely affect the value of the Class A common stock and the value of the Notes, and potentially the value of the consideration that a noteholder will receive upon the conversion of the Notes and could affect a noteholders ability to convert the Notes.Fluence intends to utilize the net proceeds of the offering for working capital needs, upgrading one of our battery cell production lines from 305 amp hour cells to 530 amp hour cells, and general corporate purposes. In particular, statements regarding our future results of operations and financial position, operational performance, anticipated growth and business strategy, future revenue recognition and estimated revenues, future capital expenditures and debt service obligations, projected costs, prospects, plans, and objectives of management for future operations, including, among others, statements regarding expected growth and demand for our energy storage solutions, services, and digital application offerings, relationships with new and existing customers and suppliers, introduction of new energy storage solutions, services, and digital application offerings and adoption of such offerings by customers, assumptions relating to the Companys tax receivable agreement, expectations relating to backlog, pipeline, and contracted backlog, current expectations relating to legal proceedings, and anticipated impact and benefits from the Inflation Reduction Act of 2022 and related domestic content guidelines on us and our customers as well as any other proposed or recently enacted legislation, are forward-looking statements.