Westport Innovations Inc. Files U.S. IPO Registration Statement With SEC in
Connection With NASDAQ Listing Application and Effects Share Consolidation
VANCOUVER, BRITISH COLUMBIA - July 22, 2008 - Westport Innovations
Inc. (TSX:WPT), a global leader in alternative fuel, low-emissions
transportation technologies, announced today that it has filed a registration
statement on Form F-10 with the U.S. Securities and Exchange Commission
concurrently with a short-form prospectus in Canada in connection with its
planned initial public offering of common shares in the United States.
The common shares are being concurrently offered in Canada under the short-form
prospectus. Copies of the registration statement can be accessed through the
SEC's website at www.sec.gov, and copies of the Canadian short-form prospectus
are available at www.sedar.com.
In connection with the planned offering and application to list its common
shares on The NASDAQ Global Market, Westport effected a three and one-half-to-
one (3.5:1) share consolidation of its issued and outstanding common shares on
July 21, 2008. The share consolidation was previously approved by shareholders
at Westport's Annual General Meeting on July 8, 2008. All fractional shares were
rounded down to the nearest whole share. Westport common shares are expected to
trade on the TSX on a post-consolidated basis beginning at the open of market on
July 24, 2008. Listing of the common shares on NASDAQ will be subject to
Westport fulfilling all applicable listing requirements.
Jefferies & Company, Inc. is the sole book-running manager for the offering.
Lazard Capital Markets LLC is acting as co-lead manager and other underwriters
include ThinkPanmure, LLC in the United States and Canaccord Capital Corporation
and National Bank Financial Inc. in Canada.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the common shares of Westport in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No offer to
buy the securities can be accepted and no part of the purchase price can be
received until the registration statement has become effective, and any such
offer may be withdrawn or revoked, without obligation or commitment of any kind,
at any time prior to notice of its acceptance given after the effective date.
The offering will be made only by means of a prospectus. Copies of the United
States preliminary prospectus, when available, may be obtained from: Jefferies &
Company, Inc., Equity Capital Markets, at 520 Madison Avenue, New York, NY,
10022, and by phone at (212) 284-2342 or 1-(888)-449-2342 or by fax request at
(212) 284-2208, Lazard Capital Markets LLC at 30 Rockefeller Plaza, New York,
NY, 10020 and by telephone at (212) 632-6717 or by fax request at (212) 632-
6984; and ThinkPanmure, LLC at 600 Montgomery St 3rd Floor, San Francisco, CA,
94111, and by telephone at (415) 249-2935 or by fax request at (415) 772-9976.
Copies of the Canadian preliminary prospectus, when available, may be obtained
from Canaccord Capital Corporation at 161 Bay Street, Suite 3000, P.O. Box 516,
Toronto, ON, M5J 2S1, and by phone at (416) 869-3052 or by fax request at (416)
869-7706; and National Bank Financial Inc. at 1155 Metcalfe Street, 5th Floor,
Montreal, QC, H3B 4S9 and by phone at (514) 879-2465 or by fax request at (514)
879-7830.
About Westport Innovations Inc.
Westport Innovations Inc. is a leading global supplier of proprietary solutions
that allow engines to operate on clean-burning fuels such as compressed natural
gas (CNG), liquefied natural gas (LNG), hydrogen and biofuels such as landfill
gas. Cummins Westport Inc., Westport's joint venture with Cummins Inc.,
manufactures and sells the world's broadest range of low-emissions alternative
fuel engines for commercial transportation applications such as trucks and
buses. BTIC Westport Inc., Westport's joint venture with Beijing Tianhai
Industry Co. Ltd., manufactures and sells LNG fuel tanks for vehicles.
Note: This document contains forward-looking statements about Westport's planned
initial public offering in the United States and public offering in Canada;
planned listing on The NASDAQ Global Market; timing of trading of its common
shares on the TSX on a post consolidated basis; information on Westport's
business, operations, technology development or the environment in which it
operates, and expectations related to the offering and listing. Forward-looking
statements are based on Westport's plans, estimates, forecasts and projections
and are not guarantees of future results or performance and involve risks and
uncertainties that are difficult to predict, or are beyond Westport's control,
including market conditions, investor expectations and business and operating
risks. There can be no assurance that Westport will complete the proposed
offering or that its common shares will be listed on The NASDAQ Global Market.
Consequently, you should not place any undue reliance on such forward-looking
statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Westport Innovations Inc.
Darren Seed
Director, Investor Relations
(604) 718-2046
Email: invest@westport.com
Website: www.westport.com
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