BRP ANNOUNCES CLOSING OF SECONDARY OFFERING
Valcourt, Québec, September 18, 2018 – BRP Inc. (TSX: DOO; NASDAQ: DOOO) (BRP or the Company) announced today the closing of its previously announced secondary offering of 8,700,000 subordinate voting shares sold by certain of its shareholders, including Beaudier Inc. and 4338618 Canada Inc. (collectively, Beaudier Group) as well as Bain Capital (Bain), at a price to the public of US$47.00 per share, for aggregate gross proceeds to the selling shareholders of US$408,900,000.
The offering was conducted through a syndicate of underwriters led by BMO Capital Markets, Citigroup, RBC Capital Markets and UBS Investment Bank as joint bookrunning managers and as representatives of the underwriters. CIBC Capital Markets, Desjardins Securities, Goldman Sachs Canada Inc., Morgan Stanley, National Bank Financial Inc., Wells Fargo Securities, Baird and TD Securities also acted as joint book-running managers.
The net proceeds of the offering will be paid directly to the selling shareholders. The Company will not receive any proceeds from the offering.
The underwriters have also been granted a 30-day option following the date hereof to purchase up to 1,305,000 additional subordinate voting shares from certain of the selling shareholders, including the Beaudier Group and Bain.
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.
We are a global leader in the world of powersports vehicles, propulsion systems and boats built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. We support our lines of product with a dedicated parts, accessories and clothing business to fully enhance your riding experience. With annual sales of CA$4.5 billion from over 100 countries, our global workforce is made up of around 10,350 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Alumacraft and Manitou, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
Catherine Moreau Philippe Deschênes
Senior Advisor, Media Relations Manager Treasury and Investor Relations
Tel.: 514.231.2118 Tel.: 450.532.6462