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BRIEF-Westport signs agreement with Cartesian Capital Group for $71.3 mln financing

Published 2016-01-11, 01:13 p/m
© Reuters.  BRIEF-Westport signs agreement with Cartesian Capital Group for $71.3 mln financing
WPRT
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Jan 11 (Reuters) - Westport Innovations Inc WPT.TO :
* Signs investment agreement with Cartesian Capital Group for up to $71.3
million in financing
* Financing agreement immediately provides $17.5 million in non-dilutive
capital
* Financing agreement immediately provides up to $53.8 million in additional
capital contingent on reaching key milestones
* Agreement also provides for Westport to receive 30% of gains realized by
Cartesian if certain return thresholds are met
* Peter Yu, managing partner and founder of Cartesian, will be appointed
to Westport'S board of directors
* Cartesian has committed up to an additional $20 million to Westport to
support two or more product development ventures

* Source text for Eikon Further company coverage WPT.TO

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