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Published on : Saturday, July 2, 2016
Bombardier is pleased to confirm that it has closed the previously announced $1 billion US investment by the Government of Québec in a newly created limited partnership, the C Series Aircraft Limited Partnership to which the assets, liabilities and obligations of the C Series aircraft program were transferred. The disbursement of the first $500 million US installment of the investment occurred on June 30, 2016, and the disbursement of the second $500 million US installment is expected to occur on September 1, 2016.
Furthermore, as previously announced, Bombardier has issued today in the name of Investissement Québec warrants exercisable for a total number of 50,000,000 Class B shares in the capital of Bombardier, exercisable for a period of five years at an exercise price per share equal to $1.72 US, being the U.S. dollar equivalent of $2.21 Cdn at the date of execution of the subscription agreement. Additional warrants, exercisable for a total number of 50,000,000 Class B shares in the capital of Bombardier, will be issued concurrently with the disbursement of the second $500 million US installment of the investment.