Go figure some dilution on the good news now!
Westport Fuel Systems Prices Offering of Common Shares published: July 14, 2017
VANCOUVER, BC – Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) today announced the pricing of its offering of common shares in the United States (the “Offering”). Westport Fuel Systems will offer 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000. Westport has granted the underwriters of the Offering an option to purchase up to an additional 2,505,000 common shares at the Offering price during the period ending 30 days from the closing of the Offering. No common shares have been or will be sold or offered in Canada or to any resident of Canada pursuant to the Offering.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the Offering. Craig-Hallum Capital Group LLC is acting as the co-lead manager. The common shares issued under the offering will be listed on The NASDAQ Global Select Market. Westport Fuel Systems has applied to the Toronto Stock Exchange for the additional listing of the common shares issued under the Offering, 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 July 19th subject to customary conditions.
The Offering is being made only by means of Westport Fuel Systems final prospectus supplement and accompanying short form base shelf prospectus. When available, copies of the U.S. prospectus supplement can be accessed through the U.S. Securities and Exchange Commission (the "SEC") website at www.sec.gov or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at 212-667-8563, or by e-mail at EquityProspectus@opco.com, and copies of the Canadian prospectus supplement are available at www.sedar.com. |
