Bloom Energy Corporation announced the pricing of its offering of $350.0 million aggregate principal amount of 3.00% green convertible senior notes due 2029 (the ?notes?) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the ?Securities Act?). The offering size was increased from the previously announced offering size of $250.0 million aggregate principal amount of notes. The issuance and sale of the notes is scheduled to settle on May 29, 2024, subject to customary closing conditions.

Bloom Energy also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $52.5 million principal amount of notes. The notes will be senior, unsecured obligations of Bloom Energy and will accrue interest at a rate of 3.00% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2024. The notes will mature on June 1, 2029, unless earlier repurchased, redeemed or converted.

Before March 1, 2029, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after March 1, 2029, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date.