Westport Prices New Stock Offering

Westport Innovations (NASDAQ: WPRT  ) has put a price tag on its new common stock issue. The company will sell the 6 million shares it is floating in the underwritten public offering for $25.39 per share. Additionally, the issue's underwriters have been granted a 30-day purchase option for up to an additional 900,000 shares.

Westport said it plans to use its take from the potential $175.2 million gross proceeds of the issue "to finance future growth opportunities including acquisitions and investments, to finance our capital expenditures, to reduce our outstanding indebtedness, for working capital purposes or for general corporate purposes."

Morgan Stanley (NYSE: MS  ) , Leucadia's (NYSE: LUK  ) Jefferies, and the Securities arm of Deutsche Bank are the joint book-runners of the issue, which is expected to close "on or about" October 1.

Currently, Westport has nearly 56.5 million shares outstanding, and its stock most recently closed at $24.93 per share.


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  • Report this Comment On September 28, 2013, at 12:25 AM, KM51754 wrote:

    Useless article. NO VALUE added information. Waste of time reading.

  • Report this Comment On September 28, 2013, at 2:37 PM, TMFVolkman wrote:

    Thanks, KM51754!

  • Report this Comment On October 02, 2013, at 7:50 AM, kamsmart wrote:

    Hi Eric,

    Thanks for the information actually!

    fool.com is the first place where I look for information when a stock either surges or falls down ..to see why that happened. And you bet, there would be an article clearly articulating in very elqouent, yet concise language as to why it happened and a small write-up about what the author think it means to the investment thesis. May be KM51754 does not find any value, but I do find a huge value in it. In fact, to the extent, that I decided to post this comment. I usually dont even have the time to write a comment on an article... I would usually just browse through it quickly, but reading the negative sentiment here, caused me to pause and make my own comments to re-inforce the value of this article.

    Thanks again, Eric!

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10/31/2014 1:04 PM
WPRT $5.93 Down -0.12 -1.98%
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