Plug Power announced yesterday that it was preparing to offer an additional 15 million shares in a secondary offering underwritten by Morgan Stanley and Barclays Capital Plug Power Inc (PLUG) announced yesterday that it was planning to offer around 15 million additional shares through a secondary offering of common stock. In its S-3 filing with the Securities and Exchange Commission (SEC), the Latham, New York-based manufacturer of fuel cells said its latest offering will be underwritten by Morgan Stanley and Barclays, with Cowen and Company and FBR Capital Markets acting as co-managers. The company also said it would offer a 30-day option to its underwriters, allowing them to buy an additional 2.5 million shares in the company. As a result of the secondary offering, Plug Power’s total shares outstanding will reach 123.44 million. The price of the offering has been not yet been announced. Plug Power said that proceeds from the offering will be diverted to expanding production, but analysts expect the funds to be used to increase capital expenditures and acquisitions. This is not the first time Plug Power has initiated the sale of additional stock. On January 10, Plug Power’s stock price rose more than 10% after the company announced it had priced a secondary offering of 10 million common shares at $3 apiece.