Westport Fuel Systems is a transportation technology company with one overarching goal – to drive innovation in the technology that powers a cleaner tomorrow. We are doing that today. By inventing, engineering, building and supplying the most advanced clean-burning fuel systems and components, we can change the way the world moves. And we do it in a way that creates value for our people, our customers, our investors and our environment. We serve our customers in more than 70 countries with leading global transportation and industrial application brands. Our technology delivers performance, fuel efficiency and environmental benefits to meet ever more stringent emissions standards and address our global climate challenges. In a world where we are hauling more goods and travelling greater distances, Westport Fuel Systems technologies are crucial to balancing the health of our economy and our environment.
Enhanced Liquidity and Continued Execution on Stated Goals
To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call on Monday, August 14, 2017 at 2:00 pm Pacific Time (5:00 pm Eastern Time).
Westport Fuel Systems Inc. announced today the exercise of the underwriters' option from its previously announced offering to purchase an additional 2,425,000 common shares at the Offering price of US$1.50 per share. With the exercise of the option, Westport issued a total of 19,125,000 common shares under the offering for gross proceeds of US$28,687,500.
Westport Fuel Systems Inc. announced today the closing of its previously announced offering of 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.
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.