VANCOUVER, BC, Feb. 23, 2021
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP)
today announced the closing of the previously announced bought deal
offering of 14,870,000 common shares of the Company (the "Common
Shares") at a price of US$37.00 per
Common Share (the "Offering Price") for gross proceeds of
US$550,190,000 (the "Offering").
TD Securities Inc. and National Bank Financial Inc. acted as
joint bookrunners for the Offering, with a syndicate of
underwriters which includes BMO Nesbitt Burns Inc., CIBC World
Markets Inc., Raymond James Ltd., and Cormark Securities Inc.
(collectively, the "Underwriters").
The Underwriters have the option to purchase up to an additional
2,230,500 Common Shares at the Offering Price to cover
over-allotments, if any, and for market stabilization purposes, for
a period of 30 days after the closing date of the Offering (the
"Over-Allotment Option"). The exercise of the Over-Allotment Option
may result in additional gross proceeds of up
to US$82,528,500.
The Common Shares are offered by way of a short form prospectus
filed in all of the provinces of Canada, excluding Quebec, and are offered in the United States pursuant to a registration
statement on Form F-10 filed under the Canada/U.S. multijurisdictional disclosure
system, and on a private placement basis in certain jurisdictions
outside Canada and the United States pursuant to applicable
prospectus exemptions.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, the Common Shares in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
About Ballard Power
Systems
Ballard Power
Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell
power for a sustainable planet. Ballard zero-emission PEM fuel
cells are enabling electrification of mobility, including buses,
commercial trucks, trains, marine vessels, passenger cars and
forklift trucks. To learn more about Ballard, please visit
www.ballard.com.
Important Cautions Regarding Forward-Looking
Statements
This release contains forward-looking statements concerning the
Over-Allotment Option and the amount of the Offering. These
forward-looking statements reflect Ballard's current expectations
as contemplated under section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Any such forward-looking statements are based on the
opinions and estimates of management as of the date hereof,
including Ballard's assumptions relating to its financial forecasts
and expectations regarding general market conditions and market
demand. These statements involve risks and uncertainties that may
cause Ballard's actual results to be materially different,
including general economic and regulatory changes, detrimental
reliance on third parties, successfully achieving our business
plans and achieving and sustaining profitability. For a detailed
discussion of these and other risk factors that could affect
Ballard's future performance, please refer to Ballard's most recent
Annual Information Form and the final short form prospectus dated
February 18, 2021 relating to the
Offering, which are available at www.sedar.com. Readers should not
place undue reliance on Ballard's forward-looking statements and
Ballard assumes no obligation to update or release any revisions to
these forward-looking statements, other than as required under
applicable legislation.
A written prospectus relating to the Offering may be obtained by
requesting it from TD Securities Inc. in Canada, Attention: Symcor, NPM (tel:
289-360-2009, email: sdcconfirms@td.com), 1625 Tech Avenue,
Mississauga ON L4W 5P5; or TD Securities (USA) LLC in the U.S. (tel: 212-827-7392), 31 W
52nd Street, New York
NY 10019; or National Bank Financial Inc.: Equity Capital
Markets, 130 King Street West, 4th Floor Podium,
email: ecm-origination@nbc.ca.
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SOURCE Ballard Power Systems Inc.