Bombardier closes Québec Government C Series investment
Bombardier confirmed that it has closed the previously announced $1 billion investment by the Government of Québec (the C Series Investment) in a newly created limited partnership, the C Series Aircraft Limited Partnership to which the assets, liabilities and obligations of the C Series aircraft programme were transferred.
The disbursement of the first $500 million US installment of the investment occurred on 30 June 2016 and the disbursement of the second $500 million US installment is expected to occur on 1 September, 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 (subordinate voting) 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 US 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 (subordinate voting) in the capital of Bombardier, will be issued concurrently with the disbursement of the second $500 million US installment of the investment.