Westport secures access to a $25 million equity facility

Westport ($WPRT) entered into a committed equity facility with Roth Principal Investments that allows it to sell up to US$25 million of shares at its discretion. The facility provides a potential source of working capital and funding for general corporate purposes, but the full amount has not been raised upfront.

Sales depend on the required resale registration becoming effective and other contractual conditions. Issuance is subject to a 19.99% exchange cap unless shareholder approval or an applicable exception permits more shares. Westport may choose not to draw the entire facility, and actual proceeds will depend on future sales. The arrangement therefore increases financing flexibility while introducing possible dilution; it should not be described as a $25 million cash injection already received.

Sources:

• Westport — committed equity facility announcement