* To offer 4.75 mln shrs at $10.50/shr
* Shares fall as much as 11 pct in morning trade
Dec 9 (Reuters) - Canada’s Westport Innovations Inc WPT.TO (WPRT.O) said it would raise $49.9 million in an equity financing by offering shares at a discount, sending its shares down as much as 11 percent in morning trade Wednesday.
Westport, which provides natural-gas engines serving the medium- and heavy-duty vehicle markets, said it would offer 4.75 million shares at $10.50 per share, a discount of 10 percent to the company’s close Tuesday on the Nasdaq.
The underwriters, led by Jefferies & Co, can buy an additional 712,500 shares at the same price, which, if exercised, would raise the offering to about $57.4 million, the company said in a statement.
The offering is expected to close by Dec. 14, the company said.
Shares of the company were down 91 cents, or 7.8 percent, at $10.81 at midmorning on Nasdaq. They were down 8 percent, or 99 Canadian cents, at C$11.46 on the Toronto Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Mike Miller)