RE: WPRT Great Turnaround Buy in my Opinion
| 80 Days ago this stock was sold for $43.25 | | kirbyjf1
usa
| VANCOUVER, Feb. 22, 2012 /PRNewswire/ - Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), announced today the pricing of its offering of common shares in the United States and Canada. Westport will offer 5,500,000 common shares at a price of US$43.25 per share, for gross proceeds of US$237,875,000. Westport has granted the underwriters of the offering an option to purchase an additional 825,000 common shares at the offering price during the period ending 30 days from the date of Westport's final prospectus supplement filed in connection with the offering to cover over-allotments, if any. If the over-allotment option is exercised in full, gross proceeds of the offering will be US$273,556,250.
Morgan Stanley & Co. LLC and Jefferies & Company, Inc. are the joint bookrunners for the offering. Other underwriters include Lazard Capital Markets LLC, Craig-Hallum Capital Group LLC, JMP Securities LLC, Canaccord Genuity Inc. and Northland Capital Markets in the United States, as well as Morgan Stanley Canada Limited in Canada. The common shares issued under the offering will be listed on The NASDAQ Global Market. Westport has applied to list the common shares issued under the offering on the Toronto Stock Exchange, which listing will be subject to fulfillment of all of the listing requirements of the exchange. The offering is expected to close on or about February 27, 2012, subject to customary conditions.
A smashed offering down almost 50% in 80 days. Like the Stock & I'm a Buyer here at $24 & $25.
Kirby
| |
