Ballard – Bought deal rakes in USD 400 million

Portrait
Former CFO Thomas Guglielmin © Ballard

In what is known as a bought deal, an underwriter syndicate co-led by investment bank Raymond James has offered Ballard Power [Nasdaq: BLDP] fresh capital for shares. The offer was so popular, the initial USD 250 million target was quickly raised to USD 402.5 million: In late November 2020, the companies agreed on USD 350 million in stock, with an option on another USD 52.5 million, all selling at USD 19.25 per share. Ballard has since exhausted those resources, though more could be on the way soon.

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A new dawn for hydrogen

Hydrogen charging station from ITM Power
Solar-Hydrogen-Station © ITM Power

Fuel cell and hydrogen stocks are riding a wave of popularity as a new megatrend sweeps the market. So far, every single one of these stocks has exceeded expectations. But how long will the love affair between investors and the industry last? Will analysts and shareholders use new methods to evaluate business models, prospects, backlogs, submarkets and revenues, and, above all, the potential for profit? And will the market separate the wheat from the chaff? I’d say yes, that will definitely happen.

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