Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, June 29, 2018

Article Excerpt

BLOOM ENERGY CORPORATION, has now filed paperwork with U.S. regulators for an initial public offering (IPO) of common shares. The expected symbol for the stock is BE on New York. Bloom Energy makes large-scale power generators for customers like data centers and hospitals to supplement electric-grid power. The company’s units convert natural gas into electricity via a fuel-cell process. They are big—about the size of a standard 30-foot shipping container. Founded in 2001 in California, the company has raised $1.6 billion over the past 17 years from private investors. Its largest shareholder is prominent Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. A key part of its decision to launch its IPO now is the restoration of U.S. tax credits for fuel cells. Congress extended tax credits for wind and solar in 2015, but left out fuel cells. It added those credits back in February 2018. As a result, Bloom Energy expects a big jump in revenue this year, and believes it…