Ballard Completes $550 Million Equity Offering

Paul, Weiss represented the underwriters in Vancouver-based Ballard Power Systems Inc.’s registered offering of 14,870,000 common shares in the United States and Canada, generating gross proceeds of $550 million. The underwriters in the offering were led by TD Securities Inc. and National Bank Financial Inc. 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; tax partner David Mayo; and environmental counsel Bill O'Brien.