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Aritzia Completes $100 Million Secondary Offering of Subordinate Voting Shares
Aritzia Completes $100 Million Secondary Offering of Subordinate Voting Shares Can...
About this update from Aritzia, Inc.
[{"type":"text","content":"\n\n\n\nAritzia Completes $100 Million Secondary Offering of Subordinate Voting Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 7, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\n\n\n\nVANCOUVER, Aug. 7, 2018 /CNW/ - Aritzia Inc. (\"Aritzia\" or the \"Company\") (TSX:ATZ), a vertically integrated, innovative design house of fashion brands, announced today the successful closing of its secondary offering (the \"Offering\") of subordinate voting shares of Aritzia by an investment vehicle managed by Berkshire Partners LLC, a Boston-based private equity firm (the \"Berkshire Shareholder\") and The Bensadoun Family Foundation, a charitable foundation controlled by Aldo Bensadoun, a director of Aritzia (the \"Bensadoun Shareholder\", and together with the Berkshire Shareholder, the \"Selling Shareholders\"), at a price of $16.55 per subordinate voting share (the \"Offering Price\"). The Selling Shareholders sold 6,050,000 subordinate voting shares under the Offering for total gross proceeds to the Selling Shareholders of $100,127,500. Aritzia did not receive any proceeds from the Offering.\n\nThe Offering was made through a syndicate of underwriters on a bought deal basis led by CIBC Capital Markets and RBC Capital Markets (the \"Underwriters\").\n\nThe Underwriters were granted an over-allotment option (the \"Over-Allotment Option\") to purchase up to an additional 907,500 subordinate voting shares from the Berkshire Shareholder at the Offering Price for additional gross proceeds of $15,019,125 (if the Over-Allotment Option is exercised in full). The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the date hereof and is subject to customary closing conditions.\n\nNo securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws. ...