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BRP raises $262 million in IPO

BRP IPO

May 29, 2013
Filed under News, Top Stories

News Release

BRP Inc. (“BRP” or the “Company”) announced today the closing of its initial public offering of 12,200,000 subordinate voting shares of the Company at a price of $21.50 per share resulting in gross proceeds to the Company of approximately $262,300,000. The net proceeds from the offering will be used to repay indebtedness under the Company’s term facility.

The subordinate voting shares are listed on the Toronto Stock Exchange under the symbol “DOO”.

The underwriters have also been granted an over-allotment option, exercisable within 30 days from the date hereof, to purchase up to an additional 1,830,000 subordinate voting shares from the Company at a price of $21.50 per share for additional gross proceeds of $39,345,000 if the option is exercised in full. If the over-allotment is exercised by the underwriters, the Company will use the additional net proceeds for working capital and general corporate purposes.

The offering was made through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, UBS Securities Canada Inc. and Citigroup Global Markets Canada Inc., acting as joint bookrunners, and including Wells Fargo Securities LLC, CIBC World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., National Bank Financial Inc. and Robert W. Baird & Co. Incorporated.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.

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