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FuelCell Energy sets up $50M at-the-market common stock program

FuelCell Energy Inc. entered into an agreement to create an at-the-market equity program to sell, from time to time, up to $50 million of its common stock through agents.

The designated agent will be entitled to a commission in an amount equal to 3% of the gross proceeds from each sale of the shares, according to a June 13 filing. FuelCell Energy has no obligation to sell any of the shares and may at any time suspend offers.

B. Riley FBR Inc. and Oppenheimer & Co. Inc. are the agents for the program.