Bombardier Inc. signed today an underwriting agreement with a syndicate of underwriters, led by CIBC World Markets Inc. and UBS Warburg Inc., for a public offering of 340 million Class B Subordinate Voting Shares at a price of $3.25 per Share.
Bombardier has also granted the underwriters an option, exercisable for a period of 30 days from the date of closing of the offering, to purchase up to 30 million additional Class B Subordinate Voting Shares under the same terms and conditions to cover over-allotments and for market stabilization purposes.
The gross proceeds to Bombardier from the offering of the Class B Subordinate Voting Shares will amount to $1.2 billion if the over-allotment option is exercised in full. The proceeds will be used to supplement Bombardier’s working capital and for general corporate purposes. The offering is scheduled to close on or about April 17, 2003, subject to the approval of the regulatory authorities.
A preliminary short-form prospectus in connection with this offering was filed on April 3, 2003 with the Canadian securities regulatory authorities.
The Class B Subordinate Voting Shares being offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, absent registration or an applicable exemption from the registration requirements of such Act.
Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
Vice President, Public Relations and Communication
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