VANCOUVER, Feb. 22, 2012 /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 5,500,000
common shares at a price of US$43.25 per share, for gross proceeds of
US$237,875,000. Westport has granted the underwriters of the offering
an option to purchase an additional 825,000 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 to cover over-allotments, if any. If the over-allotment
option is exercised in full, gross proceeds of the offering will be
Morgan Stanley & Co. LLC and Jefferies & Company, Inc. are the joint
bookrunners for the offering. Other underwriters include Lazard
Capital Markets LLC, Craig-Hallum Capital Group LLC, JMP Securities
LLC, Canaccord Genuity Inc. and Northland Capital Markets in the United
States, as well as Morgan Stanley Canada Limited in Canada. The common
shares issued under the offering will be listed on The NASDAQ Global
Market. Westport has applied to list the common shares issued under
the offering on the Toronto Stock Exchange, 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 February 27, 2012, 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, or by
telephone at (866) 718-1649 (toll free), or by e-mail at email@example.com; or Jefferies & Company, Inc., 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.
Copies of the Canadian final prospectus supplement, when available, may
be obtained by contacting Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014, or by telephone at (866) 718-1649 (toll free), or by e-mail at firstname.lastname@example.org.
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 Market and the Toronto Stock Exchange; information on
Westport's business, operations, technology development or the
environment in which it operates, 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 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.
For further information:
Vice President, Investor Relations & Communications
Westport Innovations Inc.