The Hockey Company Holdings Inc., which will be the new Canadian public entity that owns the CCM, JOFA and KOHO brands, has priced its Initial Public Offering of 4.5 million common shares at CN $16.00 per share. The offering is not available for sale in the U.S.
The offering, led by Merrill Lynch Canada, is expected to produce CN $72 million which will be used to pre-pay the NHL for its new long-term licensing deal and repurchase all the preferred stock of The Hockey Company.
The pre-pay for 10-year NHL deal, which commences with the 2004/05 season, is expected to consume roughly 60% of the IPO proceeds.
The new company will list on the Toronto Exchange under the symbol “HCY”.
>>> These guys should have talked to Fireman…
