Ballard announces us$350 million bought deal offering of common shares

Vancouver, british columbia, feb. 09, 2021 (globe newswire) -- ballard power systems ("ballard" or "the company") (nasdaq: bldp; tsx: bldp) today announced that it has entered into an agreement with a syndicate of underwriters led by td securities inc. and national bank financial inc. (collectively, the "underwriters"), pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 9,460,000 common shares of the company (the "common shares") at a price of us$37.00 per common share (the "offering price") for gross proceeds of us$350,020,000 (the "offering"). the underwriters have also been granted an option (the "over-allotment option"), exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the offering, to purchase from the company up to an additional 1,419,000 common shares at the offering price for additional gross proceeds of up to us$52,503,000 to the company. if the over-allotment option is exercised by the underwriters in full, aggregate gross proceeds of the offering will be us$402,523,000.
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