Benzinga | May 10, 2021 04:05PM EDT

Plug Power Says Delays 10-Q, Cites Restatement

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

(a) The reason described inreasonable detail inPart III of this form couldnot be eliminated withoutunreasonable effort orexpense; (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenthx calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and(c) The accountant?sstatement or other exhibitrequired by Rule 12b-25(c) has been attached ifapplicable.

PART III -- NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

As previously disclosed, Plug Power Inc. (the "Company") is restating certain of its prior period financial statements and has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2020 (the "Form 10-K"). The Company continues to work diligently along with its external auditor to complete the restatement process and to complete and file the Form 10-K as expeditiously as possible. However, given the time and focus dedicated to the restatement and the Form 10-K, the Company is necessarily delayed in its reporting and review process for the quarter ended March 31, 2021 and is unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 by the prescribed filing due date of May 10, 2021.