Ballard Power closes GBP 275 million acquisition of GeoPura
BLDP•Ballard completes GeoPura acquisition
Ballard Power Systems completed its acquisition of UK hydrogen power provider GeoPura, adding fuel supply, logistics, and an energy-as-a-service model.
Total initial consideration was set at GBP 275 million, including GBP 82.5 million in cash and 49,584,212 newly issued Ballard shares.
Additional share issuance and contingent payment
The deal also includes restricted share units to be settled within 12 months, resulting in the issuance of 1,084,540 additional Ballard shares.
Former GeoPura shareholders will hold about 14.1% of Ballard shares outstanding on a pro forma basis.
Ballard may also pay up to GBP 27.5 million in additional contingent consideration tied to post-close financial targets.
