Westport Fuel Systems Closes Offering of Common Shares
20 July 2017 - 6:05AM
Westport Fuel Systems Inc. (“
Westport Fuel
Systems”) (TSX:WPRT) (Nasdaq:WPRT) announced today the
closing of its previously announced offering (the
“
Offering”) of 16,700,000 common shares at a price
of US$1.50 per share, for gross proceeds of US$25,050,000.
Following the Offering, Westport Fuel Systems has approximately
127.9 million shares outstanding. No common shares were sold
or offered in Canada or to any resident of Canada pursuant to the
Offering.
Oppenheimer & Co. Inc. acted as the sole book-running
manager for the Offering. Craig-Hallum Capital Group LLC acted as
the co-lead manager. Lake Street Capital Markets served as
financial advisor to Westport Fuel Systems. The common shares
issued under the offering have been listed on The NASDAQ Global
Select Market and the Toronto Stock Exchange.
Copies of the United States final 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.
In connection with the Offering, Westport Fuel Systems relied
upon an exemption for interlisted issuers contained in section
602.1 of the TSX Company Manual which permits the TSX to not apply
its standards to Westport Fuel Systems, as an eligible interlisted
issuer, in reliance on evidence that a recognized exchange or
relevant regulator has accepted the Offering.
This press 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 of Westport Fuel Systems in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a
cleaner tomorrow. We are inventors, engineers, manufacturers and
suppliers of advanced clean-burning fuel systems and components
that can change the way the world moves. Our technology delivers
performance, fuel efficiency and environmental benefits to address
the challenges of global climate change and urban air quality.
Headquartered in Vancouver, Canada, we serve our customers in more
than 70 countries with leading global transportation brands. At
Westport Fuel Systems, we think ahead. For more information, visit
www.wfsinc.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements,
including statements regarding the completion of, benefits and
timing of the referenced offering. These statements are neither
promises nor guarantees, but involve known and unknown risks and
uncertainties and are based on both the views of management and
assumptions that may cause our actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activities, performance or achievements
expressed in or implied by these forward looking statements. These
risks and uncertainties include risks, and are based on
assumptions, related to our revenue growth, operating results,
industry and products, the general economy, conditions of and
access to the capital and debt markets, governmental policies and
regulation, technology innovations, fluctuations in foreign
exchange rates, operating expenses, the availability and price of
natural gas, global government stimulus packages, the acceptance of
and shift to natural gas vehicles, the actions and
determinations of our joint venture and development partners,
as well as other risk factors and assumptions that may affect our
actual results, performance or achievements or financial position
discussed in our most recent Annual Information Form, the
preliminary prospectus supplement and other filings with securities
regulators. Readers should not place undue reliance on any such
forward-looking statements, which speak only as of the date they
were made. We disclaim any obligation to publicly update or revise
such statements to reflect any change in our expectations or in
events, conditions or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in these forward looking
statements except as required by National Instrument 51-102. The
contents of any website, RSS feed or twitter account referenced in
this press release are not incorporated by reference herein.
Investor Inquiries:
Caroline Sawamoto
Manager, Investor Relations & Communications
Westport Fuel Systems
T: +1 604-718-2046
invest@wfsinc.com
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