VANCOUVER, Sept. 26, 2013 /CNW/ - Westport Innovations Inc. (TSX:WPT /
NASDAQ:WPRT) announced today the pricing of its offering of common
shares in the United States and Canada. Westport will offer 6,000,000
common shares at a price of US$25.39 per share, for gross proceeds of
US$152,340,000. Westport has granted the underwriters of the offering
an option to purchase an additional 900,000 common shares at the
offering price during the period ending 30 days from the date of
Westport's final prospectus supplement filed in connection with the
offering. If the option is exercised in full, gross proceeds of the
offering will be US$175,191,000.
Morgan Stanley, Jefferies and Deutsche Bank Securities are the joint
bookrunners for the offering. Other underwriters include RBC Capital
Markets, Lake Street Capital Markets and Craig-Hallum Capital Group.
The common shares issued under the offering will be listed on The
NASDAQ Global Select Market. Westport has applied to the Toronto Stock
Exchange for the additional listing of the common shares issued under
the offering, which listing will be subject to fulfillment of all of
the listing requirements of the exchange. The offering is expected to
close on or about October, 1, 2013, subject to customary conditions.
The offering is being made only by means of Westport's final prospectus
supplement and accompanying short form base shelf prospectus. Copies
of the United States final prospectus supplement, when available, may
be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Jefferies
LLC., Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 12th Floor, New York, NY, 10022, or by telephone at
877-547-6340 (toll free), or by email at Prospectus_Department@Jefferies.com; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005, or by telephone at 800-503-4611 or by email
at prospectus.cpdg@db.com; or RBC Capital Markets, LLC, 3 World Financial Center, 200 Vesey
Street, 8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate, or by
telephone at 877-822-4089.
Copies of the Canadian final prospectus supplement, when available, may
be obtained by contacting Morgan Stanley Canada Limited, 181 Bay
Street, Suite 3700, Toronto, Ontario M5J 2T3; or RBC Dominion
Securities Inc., RBC Wellington Square, 8th Floor, 180 Wellington Street W., Toronto, Ontario M5J 0C2, Attention:
Distribution Centre, or by telephone at 416-842-5349.
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 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.
Note: This document contains forward-looking statements about Westport's
planned public offering in the United States and Canada; listing on The
NASDAQ Global Select Market and the Toronto Stock Exchange and
expectations related to the offering and listing. Forward-looking
statements are based on Westport's plans, estimates, forecasts and
projections and are not guarantees of future results or performance and
involve risks and uncertainties that are difficult to predict, or are
beyond Westport's control, including market conditions, investor
expectations and business and operating risks. There can be no
assurance that Westport will complete the proposed offering or that its
common shares will be listed on The NASDAQ Global Select Market or the
Toronto Stock Exchange. Consequently, you should not place any undue
reliance on such forward-looking statements. In addition, these
forward-looking statements relate to the date on which they are made.
Westport disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Westport Innovations Inc.
