Page ContentBallard completes $155.9 million common share offeringDate Closed: 12/30/2002Value: $155.9 million Ballard Power Systems Inc. completed a public offering of $155.9 million of common shares on December 30, 2002. The offering was made concurrently in all provinces of Canada and in the U.S., pursuant to the multijurisdictional disclosure system. The net proceeds of the offering were added to working capital and will be used for research and product development for portable power generation, small to mid-sized stationary power generation and transportation applications, the development of high volume manufacturing processes and acquisition of related equipment and for general corporate purposes, including the development of product distribution and service capabilities. The syndicate of underwriters included, RBC Dominion Securities Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc. and UBS Bunting Warburg Inc. The underwriters were represented in Canada, by BLG with a team comprised of Bill Sirett, Fred Pletcher, Warren Learmonth, Dario Fracca and Jamie Afifi.