Bloom Energy Corporation (NYSE: BE) has announced the pricing of its offering of US$550 million aggregate principal amount of 3% green convertible senior notes due 2028 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 offering size was increased from the previously announced offering size of US$500 million aggregate principal amount of notes. The issuance and sale of the notes is scheduled to settle on May 16, 2023, 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 US$82.5 million principal amount of notes.

Latham & Watkins LLP represents Bloom Energy Corporation in the offering, with a corporate team led by Bay Area partners Tad Freese and Richard Kim, and Los Angeles partner Arash Aminian Baghai, with New York associate Ryan Gold, Los Angeles associate Andrew Bentz, and Bay Area associates Josh Landis and Kayleigh Kuyon. Advice was also provided on equity derivatives by New York partner Reza Mojtabaee-Zamani, with associates Christopher Yu and Hera Liao; on regulatory matters by Washington, D.C. partner Natasha Gianvecchio, with associate Carlos Clemente; and on tax matters by New York partner Elena Romanova, with associate Michael Yu.