VANCOUVER, Oct. 6, 2016 /CNW/ - Aritzia Inc. ("Aritzia") (TSX:ATZ) announced today that, further to its recently completed secondary offering of 25,000,000 subordinate voting shares at a price of $16.00 per share, the over-allotment option granted to the underwriters was exercised in full for additional gross proceeds of $60,000,000. Participating in the transaction were entities controlled by Brian Hill, Aritzia's Founder and Chief Executive Officer, and by an investment vehicle managed by Boston-based private equity firm Berkshire Partners LLC (collectively, the "Selling Shareholders"). The sale of the additional subordinate voting shares today brings the aggregate gross proceeds of the Selling Shareholders to $460,000,000.
The subordinate voting shares are listed under the symbol "ATZ" on the Toronto Stock Exchange. Following the closing of the over-allotment option, there are 31,747,826 subordinate voting shares issued and outstanding, as well as 75,196,479 multiple voting shares which are convertible into subordinate voting shares on a one-for-one basis.
The offering was made through a syndicate of underwriters led by CIBC Capital Markets, Merrill Lynch Canada Inc. and TD Securities Inc., as joint bookrunners.
Aritzia is a rapidly growing innovative design house and fashion retailer of exclusive brands. Aritzia designs apparel and accessories for its collection of exclusive brands and sells them under the Aritzia banner. Aritzia's expansive and diverse range of women's fashion apparel and accessories addresses a broad range of style preferences and lifestyle requirements for women aged 15 to 45. Aritzia is well known and deeply loved by its customers in Canada with growing customer awareness and affinity in the United States and outside of North America. Aritzia aims to delight its customers through an aspirational shopping experience and exceptional customer service that extends across more than 75 retail stores and its eCommerce business, aritzia.com.
About Berkshire Partners
Berkshire Partners, a Boston-based investment firm, has made over 115 investments since its founding in 1986 through nine private equity funds with more than $16 billion in aggregate capital. Berkshire has developed industry experience in several areas including consumer and retail, business services, industrials, communications and transportation. Berkshire has a long history of partnering with management teams to build market leading growth companies. Prior investments in the retail sector include Bare Escentuals, Carter's and Party City. For additional information, visit www.berkshirepartners.com.
SOURCE Aritzia Inc.
For further information: Media Contact: Brittany Fraser, ICR, Inc., 647-277-1231, [email protected]