VALCOURT, QC, Jan. 26,
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
2,000,000 subordinate voting shares of BRP (the "Subordinate
Voting Shares") at a price to the public of C$91.00 per Subordinate Voting Shares.
The Subordinate Voting Shares were offered by way of a
prospectus supplement dated January 23, 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 RBC 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 held 13,796,615 multiple
voting shares of BRP, representing approximately 18.3% of the
issued and outstanding shares of the Company (the "Shares")
and approximately 29.9% 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 CA$10
billion from over 130 countries and a global workforce of close to
23,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Manitou, Alumacraft, 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.