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Bloom Energy (NYSE:BE) -3.8% pre-market Thursday after announcing plans to offer $250M aggregate principal amount of green convertible senior notes due 2029 in a private offering, with an underwriters option to purchase up to an additional $37.5M of notes.
The company said it plans to use part of the proceeds from the offering to repurchase some of its outstanding 2.5% green convertible senior notes due 2025, with the remainder to be used for general corporate purposes, including research and development.
Bloom Energy (BE) shares surged 12.3% on Wednesday, part of a rally in alternative energy names apparently sparked by news that China’s main solar industry body called for an end to a profit-slashing price war.