BUZZ-Ballard Power Systems Inc: Share offering

Wed Jul 1, 2015 8:33am EDT
 
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** Canadian fuel cell products maker's U.S.-listed shares down 16.3 pct at $1.75 premarket

** Company announces offering of 8.1 mln of its U.S.-listed shares at $1.60 per share

** Offering price is 23.5 pct discount to stock's Tuesday close

** Offering size represents 6 pct of outstanding shares as of May 13 - Thomson Reuters data

** Ballard Power says it expects gross proceeds of $11.8 mln after deductions and expenses

** Company also forecasts Q2 revenue of $10.6 mln-$11.5 mln, lower than $18.5 mln reported year earlier

** Up to Tuesday's close, stock had more than halved in value in past 12 months