Ballard Increases Bought Deal Offering of Common Shares
GLOBE NEWSWIRE, 10 February 2021
Ballard Power Systems (“Ballard” or “the Company”) (NASDAQ: BLDP; TSX: BLDP) today announced that, due to strong demand, it has agreed with a syndicate of underwriters led by TD Securities Inc. and National Bank Financial Inc. (collectively, the “Underwriters”), to increase the size of its previously announced US$350 million bought deal offering (the “Offering”). Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a bought deal basis, 14,870,000 common shares of the Company (the “Common Shares”) at a price of US$37.00 per Common Share (the “Offering Price”) for gross proceeds of US$550,190,000.
The Underwriters have also been granted an option (the “Over-Allotment Option”), exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the Offering, to purchase from the Company up to an additional 2,230,500 Common Shares at the Offering Price for additional gross proceeds of up to US$82,528,500 to the Company. If the Over-Allotment Option is exercised by the Underwriters in full, aggregate gross proceeds of the Offering will be US$632,718,500.
