Westport arranges public offering, private placement
WESTPORT FUEL Systems Inc. intends to offer and sell common shares in an underwritten public offering. Westport Fuel Systems also expects to grant the underwriters a 30-day option to purchase additional common shares. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. No common shares 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 will act as the co-lead manager. When available, copies of the U.S. preliminary prospectus supplement can be accessed through the U.S. Securities and Exchange Commission website, and copies of the Canadian preliminary prospectus supplement are available at SEDAR.
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 fulfilment of all of the listing requirements of the exchange.
The offering will be made only by means of the Westport Fuel Systems prospectus supplement and accompanying short-form base-shelf prospectus. When available, copies of the prospectus supplement, the final prospectus supplement and accompanying base prospectus related to this offering may be obtained from the SEC’s website or from Oppenheimer & Co., attention: syndicate prospectus department, 85 Broad St., 26th floor, New York, N.Y., 10004, by telephone at 212-667-8563 or by e-mail at EquityProspectusopco.com.
Certain directors and executive officers of Westport Fuel Systems intend to purchase common shares pursuant to a non-brokered private placement in Canada only. The concurrent private placement does not form part of the offering. The closing of the Concurrent private placement is expected to take place concurrently with the closing of the offering. The common shares issued pursuant to the concurrent private placement will be subject to a seasoning period or statutory hold period, as applicable. Westport Fuel Systems has applied to the Nasdaq Global Select Market and the Toronto Stock Exchange for the additional listing of the common shares issued under the concurrent private placement, which listing will be subject to fulfilment of all of the listing requirements of the exchanges.
About Westport Fuel Systems Inc.
At Westport Fuel Systems, it is driving innovation to power a cleaner tomorrow. It is composed of inventors, engineers, manufacturers and suppliers of advanced clean-burning fuel systems and components that can change the way the world moves. Its technology delivers performance, fuel efficiency and environmental benefits to ad dress the c hal lenge s of global climate change and urban air quality. Headquartered in Vancouver, Canada, it serves its customers in more than 70 countries with leading global transportation brands.