Ballard Completes Offering of Common Shares in U.S. and Canada

Paul, Weiss represented the underwriters, led by National Bank Financial Inc. and Raymond James Ltd., in an offering by Ballard Power Systems Inc. of 20,909,300 common shares at $19.25 per share for aggregate gross proceeds of $402,504,025. Ballard’s vision is to deliver fuel cell power for a sustainable planet. Ballard’s zero-emission fuel cell power products are enabling the electrification of mobility and transportation, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks.

The Paul, Weiss team included corporate partner Christopher Cummings and counsel Stephen Centa; and tax partner David Mayo.