Ballard raises $550 million through a bought deal offering

Canadian fuel-cell company, Ballard Power Systems has announced that it has closed an upsized $550 million bought deal offering of common shares. The company sold 14.87 million common shares at a 7 per share. It has the potential to raise up to 82.5 million in additional proceeds if the underwriters use their option to buy up to 2.23 million more shares within 30 days to cover over-allotments.

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