Westport Fuel Systems (WPRT) said late Tuesday it has closed the sale of 1.6 million common shares and 3.3 million pre-funded warrants in a registered direct offering, along with warrants to buy up to 4.9 million common shares in a concurrent private placement.

The combined effective purchase price for common share, or pre-funded warrant, and associated private placement warrant was $2.06, the company said.

Westport said it raised gross proceeds of about $10 million and intends to use the net proceeds for working capital and other general corporate purposes.