Westport Announces Closing of US$10 Million Registered Direct Offering and Concurrent Private Placement (opens original article in a new tab)

Westport Fuel Systems closed a US$10 million registered direct offering and concurrent private placement, issuing common shares and warrants to raise capital for corporate purposes.

• Westport closed a US$10 million registered direct offering and private placement with 1,600,000 common shares and 3,254,369 pre-funded warrants.
• The private placement warrants allow purchase of 4,854,369 common shares at US$2.06 each, exercisable immediately and expiring in two years.
• Westport plans to use proceeds for working capital and general corporate purposes, with potential additional US$10 million if warrants are exercised.