Equity Distribution Agreement Atm

VANCOUVER, CANADA – Ballard Power Systems (NASDAQ: BLDP); TSX: BLDP (“Ballard” or “Company”) announced today that it has entered into a market share distribution agreement (the Share Distribution Agreement) with BMO Capital Markets, Raymond James Ltd. and TD Securities Inc., as well as CIBC World Markets Inc., Cormark Securities Inc., National Bank Financial Inc. (collectively the “Canadian Agents”) and BMO Capital Markets. Raymond James & Associates, Inc. and TD Securities (U.S.) LLC as leading agents in the U.S. and CIBC World Markets Corp., H.C. Wainwright &Co., LLC, Cormark Securities (U.S.) Limited, Lake Street Capital Markets, LLC, National Bank of Canada Financial Inc. and Roth Capital Partners (together the “U.S. Agents” and, together with the Canadian Agents, the “Agents”), which launches an At the Market action programme (the “ATM programme”). The Company intends to issue common shares (“Common Shares”) valued at up to $250 million (or the equivalent in Canadian dollars) under the ATM Program. Common shares are issued to the public from time to time at the discretion of the Company. All common shares sold under the ATM program are sold at the market price in effect at the time of sale when sold through the Toronto Stock Exchange (the “TSX”) or the Nasdaq stock exchange (Nasdaq) or other existing trading markets for the Common Shares in Canada and the United States.

Sales under the ATM program are initiated at the discretion of the company and the net proceeds from all sales of common shares under the ATM program are used for general purposes. Ballard pays agents a commission rate of up to 2.0% of the total gross proceeds of each sale of common shares and has agreed to grant agents the usual indemnification and contribution rights. Ballard also reimburses the agent for certain costs related to entering into the equity distribution agreement. . . .

Posted Sunday, September 19th, 2021 at 1:38 am
Filed Under Category: Uncategorized
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