Westport Fuel Systems launches equity offering in Vancouver on Sept 13, 2024

On September 13, 2024, Westport Fuel Systems Inc. announced the establishment of an at-the-market equity offering program, allowing the company to issue and sell up to $35 million of common shares. This program enables Westport to sell shares at prevailing market prices through the TSX and Nasdaq, providing flexibility in capital raising. The offering will remain effective until all shares are sold, or until June 18, 2025, whichever comes first. The equity offering is part of Westport's strategy to enhance its financial position and support its operations in the clean fuel sector. The company specializes in advanced fuel delivery systems for low-carbon fuels, including natural gas and hydrogen, catering to the global transportation industry. The proceeds from the offering are expected to be used for general corporate purposes, although specific allocations have not been detailed. The announcement includes a prospectus supplement that outlines the terms of the offering, which will be available on SEDAR+ and EDGAR. This ensures compliance with securities regulations in both Canada and the United States. The program is designed to provide Westport with the necessary capital to continue its innovation and growth in the clean fuel market. Investors are cautioned that the offering does not constitute a solicitation to buy shares in jurisdictions where such an offer would be unlawful. The company has also included forward-looking statements regarding the potential outcomes of the equity offering, emphasizing the inherent risks and uncertainties involved in capital markets.