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BRP AND ITS PRINCIPAL SHAREHOLDER ANNOUNCE CLOSING OF PREVIOUSLY ANNOUNCED SECONDARY OFFERING
BRP AND ITS PRINCIPAL SHAREHOLDER ANNOUNCE CLOSING OF PREVIOUSLY ANNOUNCED SECONDARY OFFERING ...
About this update from Brp, Inc.
[{"type":"text","content":"\n \n \n \n BRP AND ITS PRINCIPAL SHAREHOLDER ANNOUNCE CLOSING OF PREVIOUSLY ANNOUNCED SECONDARY OFFERING\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VALCOURT, QC\n \n \n ,\n \n \n April 19, 2024\n \n \n /CNW/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) (\"BRP\" or the \"Company\") announced today the closing of the previously announced bought deal secondary offering (the \"Offering\") pursuant to which Bain Capital Integral Investors II, L.P. (\"Bain\" or the \"Selling Shareholder\") sold 1,500,000 subordinate voting shares of BRP (the \"Subordinate Voting Shares\") at a purchase price of\n \n C$92.90\n \n per Subordinate Voting Shares for total gross proceeds of\n \n C$139,350,000\n \n to the Selling Shareholder.\n \n \n \n \n \n \n \n \n \n The Subordinate Voting Shares were offered by way of a prospectus supplement dated April 17, 2024 to the Company's short form base shelf prospectus dated February 23, 2023 filed with the securities regulatory authorities in each of the provinces and territories of\n \n Canada\n \n as well as with the U.S. Securities and Exchange Commission (SEC) as part of a registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System.\n \n \n All net proceeds have been paid directly to the Selling Shareholder. The Company did not receive any proceeds from the Offering.\n \n \n The Subordinate Voting Shares were offered by BMO Capital Markets, which was not granted an over-allotment option in connection with the Offering.\n \n \n BRP's Subordinate Voting Shares are listed on the Toronto Stock Exchange (TSX) and Nasdaq Global Select Market (NASDAQ) under the symbol \"DOO\" and \"DOOO\", respectively.\n \n \n Upon closing of the Offering, Bain and its affiliates held 12,125,187 multiple voting shares of BRP, representing approximately 16.16% of the issued and outstanding shares of the Company (the \"Shares\") and approximately 27.19% of the voting power attached to all of the Shares. No securities regulatory authority has either approved...