Westport Fuel Systems Closes $10 Million Direct Offering and Concurrent Private Placement
MT Newswires Live
Jun 24
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.
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