Westport Completes US$54.0 Million Equity Offering

VANCOUVER, BRITISH COLUMBIA, August 20 / MARKET WIRE/ -- Westport Innovations Inc. (TSX: WPT)(NASDAQ: WPRT), a global leader in alternative fuel, low-emissions transportation technologies, announced today that it has completed a US$54 million equity offering. Under the terms of the offering, Westport issued and sold 4,500,000 Common Shares for an aggregate sale price of US$54 million (US$12.00 per Common Share). Westport currently expects to use the net proceeds from the offering of US$50.6 million (before expenses) for product development, market development and general corporate purposes. The underwriters have been granted an over-allotment option to purchase an additional 675,000 Common Shares. The United States Securities and Exchange Commission declared Westport's registration statement relating to Westport's Common... [read full story]