Home / Knowledge / News / Apparel/Garments / Performance Sports prices IPO at $15.50/share
Performance Sports prices IPO at $15.50/share
20
Jun '14
Performance Sports Group Ltd., a leading developer and manufacturer of high performance sports equipment and apparel, announced the pricing of its underwritten public offering in the United States and Canada (the "Offering") of 7,096,775 common shares at a price to the public of US$15.50 per share, for total gross proceeds of approximately US$110 million. 
 
In connection with the Offering, the Company has granted an over-allotment option to the underwriters to purchase up to an additional 1,064,516 common shares, exercisable for a period of 30 days following closing. The Offering is expected to close on or about June 25, 2014, subject to customary closing conditions. Trading of the Company's common shares is expected to commence on the New York Stock Exchange ("NYSE") on June 20, 2014. The common shares will then be dual listed on the NYSE and the Toronto Stock Exchange (the "TSX") under the symbol "PSG."
 
The Company intends to use the net proceeds of the Offering to reduce leverage and repay a portion of the Company's term loan facility which was used to finance its recent acquisition of Easton Baseball/Softball.
 
The Offering is being made through a syndicate of underwriters led by Morgan Stanley, BofA Merrill Lynch and RBC Capital Markets, who are acting as joint book-running managers.
 
On June 17, 2014, as previously announced, the Company changed its name from "Bauer Performance Sports Ltd." to "Performance Sports Group Ltd." to better reflect the growth of the Company with its recent strategic acquisitions and expansion into new high performance sports. The Company's brands, including BAUER, MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON, continue to be consumer-facing brands in their respective sports.
 
The Company's Registration Statement has become effective under the United States Securities Act of 1933 and the Company has obtained a receipt from securities regulatory authorities in each of the provinces of Canada for its final short form base PREP prospectus. The Company will file a supplemented prospectus with pricing information. The TSX has conditionally approved the listing of the Company's common shares sold under the Offering, subject to customary listing conditions, and the NYSE has authorized for listing the Company's common shares sold under the Offering and its outstanding common shares.
 
About Performance Sports Group Ltd.
Performance Sports Group Ltd. is a leading developer and manufacturer of ice hockey, roller hockey, lacrosse, baseball and softball sports equipment, as well as related apparel. The Company has the most recognized and strongest brands in ice hockey, roller hockey, baseball and softball, and holds top market share positions in these sports. Its products are marketed under the BAUER, MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names and are distributed by sales representatives and independent distributors throughout the world. The Company is focused on building its leadership position by growing market share in all product categories and pursuing strategic acquisitions.
 

Performance Sports Group


Must ReadView All

Courtesy: ICTSD

Textiles | On 6th May 2016

EU, US negotiators push to complete TTIP deal in 2016

European and US negotiators for the Transatlantic Trade and...

Courtesy: Kate Spade & Co

Apparel/Garments | On 6th May 2016

Kate Spade & Co’s net sales up 14.5% in Q1 2016

Kate Spade & Company, owner of two lifestyle brands – Kate Spade New...

Courtesy: Aeropostale

Apparel/Garments | On 6th May 2016

Aéropostale to use bankruptcy filing to revamp business

American specialty retailer of casual apparel and accessories,...

Interviews View All

Nick Preston
Hardy Amies

What are the popular apparel fashion trends in UK? Why do you think is the ...

Vikas Purohit
Amazon India

India has been one of the fastest growing markets for Amazon. Amazon.in...

Thomas Waldmann
VDMA Textile Machinery Association

What is the current market scenario for German textile machineries,...

Larry L Kinn
Suominen Corporation

<b><i>Larry L Kinn, Senior Vice President - Operations Americas of...

Mr. Tushar Patel
Sanrhea Technical Textiles Limited

Mr. Tushar Patel is the Managing Director of Sanrhea Technical Textiles...

Mr. Johan Berlin
Investkonsult Sweden AB

Mr. Johan Berlin is the majority shareholder and Managing Director of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search