Fuel cell company Ballard Power announces proposed US offering
01 July 2015
Canada-based fuel cell system company Ballard Power Systems intends to offer its common shares in an underwritten public offering. Ballard expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the common shares offered in the offering to cover overallotments, if any. 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.
Cowen and Company is acting as the sole bookrunner.
Ballard expects to use the net proceeds for working capital and other general corporate purposes, including the acquisition of, or investment in, companies, technologies, products or assets that complement Ballard’s business.
The offering is being made in the United States only under Ballard’s short form Canadian base shelf prospectus, dated 21 May 2014, which has been filed with the Canadian securities regulators in each of the provinces and territories of Canada, except Quebec, and the corresponding shelf registration statement on Form F-10, which has been filed with the Securities and Exchange Commission (SEC) under the Multijurisdictional Disclosure System (MJDS) and was declared effective by the SEC on 22 May 2014.
A prospectus supplement relating to, and describing the terms of, the offering will be filed with the British Columbia Securities Commission on a non-offering basis, and with the SEC under the MJDS, and once filed will be available at www.sec.gov and www.sedar.com.
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