BRP and its principal shareholder announce secondary offering
by CM Staff
Bain currently holds 15,796,615 multiple voting shares of the Company representing approximately 20.8% of the issued and outstanding shares of the Company.
VALCOURT — BRP Inc. announced that Bain Capital Integral Investors II, L.P., and the Company have entered into an agreement with RBC Capital Markets to complete a secondary offering on a bought deal basis. Under the agreement, RBC Capital Markets has agreed to purchase 2,000,000 subordinate voting shares of the Company at a price to the public of C$91.00 per subordinate voting share.
In connection with the Offering, the Company will file a preliminary prospectus supplement to its short form base shelf prospectus dated February 23, 2023. The preliminary prospectus supplement will be filed with the securities regulatory authorities in each of the provinces and territories of Canada 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.
Bain currently holds 15,796,615 multiple voting shares of the Company representing approximately 20.8% of the issued and outstanding shares of the Company and approximately 33.0% of the voting power attached to all of the Shares. Following the closing of the Offering, Bain will hold 13,796,615 Multiple Voting Shares, representing approximately 18.3% of the issued and outstanding Shares and approximately 29.9% of the voting power attached to all of the Shares.
The net proceeds of the Offering will be paid directly to the Selling Shareholder. The Company will not receive any proceeds from the Offering.
