BUZZ-Fluence Energy rises after upsized $350 mln convertible debt offering

Reuters2024-12-11

** Shares of renewable energy storage provider Fluence Energy rise 1.4% to $16.65 premarket

** FLNC late Tuesday priced $350 mln offering of convertible bonds due June 2030

** Debt issuance boosted from previously announced offering size of $300 mln of convertible bonds

** Initial conversion price of $21.35/shr represents 30% premium to stock's last close

** FLNC on Tuesday tumbled 11.3% to close at $16.42 after co unveiled the offering but with fewer details

** Co plans to use the proceeds to upgrade one of its battery cell production lines and general corporate purposes

** As of last close, FLNC down 31.2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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