PORTLAND, Maine— (BUSINESS WIRE)-WEX Inc. (NYSE:WEX), a leading financial technology services provider, today announced the conclusion of the previously announced agreement to acquire eNett, a leading provider of B2B payment solutions, and Optal, a B2B transaction optimization company. WEX paid a total of approximately $577.5 million, financed by cash. Although visibility due to COVID-19 remains limited, WEX estimates that the impact of the acquisition on adjusted consolidated earnings will be negligible by calendar year 2021. Growing investor interest in green energy games has brought FuelCell Energy (NASDAQ:FCEL) to a level not seen in years. But even at the current level, FCEL`s stock is nowhere near as advanced as the $25 price, which was last seen in 2018. Source: Kaca Skokanova/Shutterstock Investors have a very good reason to be wary of management. Each time the action features a strong rally, the company sells shares. Similarly, the latest fourth quarter results are hardly inspiring. Equity Offering Pressures FCEL Action On December 2, FuelCell announced the sale of 34,518,539 shares for 6.50 $US.
Although the action drew from there in the following days, the positive mood for clean energy stocks helped make The Issue of FuelCell attractive. The company said it will raise 128.8 million $US from the sale of 19,822,219 shares. $95.5 million, or 14,696,320 shares of selling shareholders, does not go to FuelCell.InvestorPlace – Stock Market News, Stock Advice – Trading Tips The company will use the proceeds to pay money from its credit agreement with Orion Energy Partners. It will also use a portion of the funds to pay the main withdrawal price on preferred shares. One of its subsidiaries owns these shares. Momentum Fade a Big Risk The clean energy boom on the stock market could stop at any time. This would put an end to the buying dynamics for companies like FuelCell. On September 29, the company announced the pricing of 43.5 million shares at a price of 2.10 $US, bringing in 91.35 million $US. Stock sales followed a few weeks after the weak third quarter report.
7 Growth Stocks You Don`t Want to Sleep On FuelCell had sales of $18.7 million, down 17.6% from the previous year. It lost 7 cents per share on the basis of GAAP. With adjusted EBITDA of -5.64 million, the stock should have fallen and remained there. Significant problems within the bridge mechanism increase their losses. As the record shows, “POSCO Energy filed a complaint with the Delaware Court of Chancery (the Tribunal) that attempted to assert its rights as a shareholder of the company in order to verify and make copies and excerpts from certain books and recordings of the company.” If it loses the case, FuelCell has legal expenses and settlement fees that sink its money.