VALCOURT, QC, April 19,
2024 /PRNewswire/ - 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 C$92.90 per Subordinate Voting Shares for total
gross proceeds of C$139,350,000 to
the Selling Shareholder.
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 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 Multijurisdictional Disclosure
System.
All net proceeds have been paid directly to the Selling
Shareholder. The Company did not receive any proceeds from the
Offering.
The Subordinate Voting Shares were offered by BMO Capital
Markets, which was not granted an over-allotment option in
connection with the Offering.
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.
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 or disapproved the contents of this
press release. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any province, state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such province, state or jurisdiction.
About BRP
BRP Inc. is a global leader in the world of powersports
products, propulsion systems and boats built on over 80 years of
ingenuity and intensive consumer focus. Through its portfolio of
industry-leading and distinctive brands featuring Ski-Doo and Lynx
snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and
off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion
systems as well as Rotax engines for karts and recreational
aircraft, BRP unlocks exhilarating adventures and provides access
to experiences across different playgrounds. The Company completes
its lines of products with a dedicated parts, accessories and
apparel portfolio to fully optimize the riding experience.
Committed to growing responsibly, BRP is developing electric models
for its existing product lines and exploring new low voltage and
human assisted product categories. Headquartered in Quebec, Canada, BRP has annual sales of
$10.4 billion from over 130 countries
and a global workforce of close to 20,000 driven, resourceful
people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex and the BRP logo are
trademarks of Bombardier Recreational Products Inc. or its
affiliates. All other trademarks are the property of their
respective owners.
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SOURCE BRP Inc.