Capstone Energy plunges on equity offering
19/08/2022 11:19
** Shares of Capstone Green Energy CGRN.O plunge 44.4% to
$2.19 premarket
** Provider of energy technology systems sank over 25% after
market close on Thursday as it announced launch of an equity
offering urn:newsml:reuters.com:*:nL1N2ZU286
** Co plans to use proceeds for working capital and expand
its long-term rental fleet urn:newsml:reuters.com:*:nBw24BGJra
** CGRN also secured orders for five C1000 "signature
series" microturbines on Wednesday and said project marked the
largest single order for Capstone microturbines urn:newsml:reuters.com:*:nBw6dnqS4a
** At last close, CGRN was up ~19% YTD
(Reporting by Mehnaz Yasmin in Bengaluru)
((Mehnaz.Yasmin@thomsonreuters.com))
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