Westport Fuel Systems Announces Refinancing of Convertible Notes with Cartesian Capital Group [Canadian Business Journal (Canada)]
Westport Fuel Systems Inc - Common Shares (WPRT)
Last westport fuel systems inc - common shares earnings: 3/17 04:30 pm
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Source: Canadian Business Journal
VANCOUVER, British Columbia, July 24, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“CompanyCartesianUnder the terms of the agreement, the Company has agreed to pay down the principal amount of the existing convertible notes from USD $17.5 million to USD $10 million. Concurrent with such repayment, the maturity of the remaining amended notes will be extended to three years from the date of the amendments, the coupon rate will be reduced from 9% annually to 6.5% annually, and the conversion price will be revised from USD $2.17 per share to USD $1.42 per share. Peter Yu, Managing Partner of Cartesian, will resign his seat on the Westport Fuel Systems Board of Directors.“The refinancing of our convertible notes with Cartesian reduces our cost of capital and extends the maturity to 2023 to better align with the growth of our HPDI business,” said David M. Johnson, Chief Executive Officer of Westport Fuel Systems. “We deeply appreciate Peter Yu’s contributions to our Board of Directo
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WPRT
Earnings
- 3/25/24 - Miss
WPRT
Sec Filings
- 4/23/24 - Form 6-K
- 4/11/24 - Form 6-K
- 3/26/24 - Form 6-K
- WPRT's page on the SEC website