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Aritzia Completes $330 Million Secondary Offering of Subordinate Voting Shares and Concurrent Share Repurchase of $107 Million Subordinate Voting Shares and Multiple Voting Shares
Aritzia Completes $330 Million Secondary Offering of Subordinate Voting Shares and Concurr...
About this update from Aritzia, Inc.
[{"type":"text","content":"\n\n\n\nAritzia Completes $330 Million Secondary Offering of Subordinate Voting Shares and Concurrent Share Repurchase of $107 Million Subordinate Voting Shares and Multiple 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, March 8, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\n VANCOUVER, March 8, 2019 /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 an aggregate of 19,505,000 subordinate voting shares of Aritzia at a price of $16.90 per subordinate voting share (the \"Offering Price\") for total gross proceeds of $329,634,500. Pursuant to the Offering, an investment vehicle managed by Berkshire Partners LLC, a Boston-based private equity firm (the \"Berkshire Shareholder\"), on its own behalf and certain charitable entities (the \"Charitable Entities\") having received donations by affiliates of the Berkshire Shareholder, sold a total of 19,005,000 subordinate voting shares. In addition, The Bensadoun Family Foundation, a charitable foundation controlled by Aldo Bensadoun, a director of Aritzia, sold a total of 500,000 subordinate voting shares. Aritzia did not receive any proceeds from the Offering.\nThe Company also announced today the successful closing of its purchase of 6,333,653 subordinate voting shares and multiple voting shares for cancellation from the Berkshire Shareholder and the Charitable Entities (the \"Share Repurchase\"). The purchase price paid by the Company under the Share Repurchase was the same as the Offering Price and resulted in the Berkshire Shareholder and Charitable Entities receiving aggregate gross proceeds of $107,038,736.\nAs a result of these transactions, the Berkshire Shareholder has no remaining equity interest in Aritzia.\nThe Offering was made through a syndicate of underwriters on a bought deal basis led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. (the \"...