Hammond Power Chair Sells Shares for $65.5 Million

Hammond Power Solutions (TSE:HPS.A) has released an update.

Hammond Power Solutions Inc.’s Chair of Board, Mr. William G. Hammond, sold 500,000 Class A Subordinate Voting Shares at $131 each, totaling about $65.5 million, for personal financial management and philanthropy. The company did not issue new shares or receive proceeds from this sale, which was managed by Acumen Capital Finance and Canaccord Genuity Corp. Post-sale, Mr. Hammond’s ownership decreased but still represents significant control of the company.

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