FuelCell Energy Announces Upsize and Pricing of Offering of Common Stock

FuelCell Energy, Inc. (NASDAQ: FCEL) today announced the pricing of its underwritten public offering of 10,714,286 shares of its common stock (the “Offering”) at a public offering price of $21.00 per share. The offering was upsized from the previously announced offering size of $200 million of common stock. The gross proceeds to FuelCell Energy from the Offering are expected to be $225 million, before deducting underwriting discounts and commissions and other offering expenses payable by FuelCell Energy. All of the shares are being sold by FuelCell Energy. The Offering is expected to close on or about July 9, 2026, subject to customary closing conditions. FuelCell Energy has also granted the underwriters a 30-day option to purchase up to 1,607,143 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. FuelCell Energy intends to use the net proceeds from the Offering, if completed, for capital expenditures related to expansion of manufacturing capacity to support growth, working capital and general corporate purposes. Citigroup and Barclays are acting as joint book-running managers for the Offering. Oppenheimer & Co., RBC Capital Markets and Goldman Sachs & Co. LLC are also acting as joint book-running managers for the offering. Canaccord Genuity, B. Riley Securities, BMO Capital Markets, Siebert Williams Shank and Tuohy Brothers are acting as co-managers for the Offering. A shelf registration statement on Form S-3 (333-296607) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became automatically effective on June 8, 2026. The Offering will be made only by means of a prospec...