BRP Inc., the Canada-based owner of the Ski-Doo, Sea-Doo, and Lynx powersports brands, and Bain Capital Integral Investors II, L.P. have reportedly entered into an agreement with RBC Capital Markets to complete a secondary offering (Offering) on a bought deal basis.
Under the agreement, RBC Capital Markets has agreed to purchase from Bain 1,850,000 subordinate voting shares of the BRP, Inc. (Subordinate Voting Shares) at a price to the public of CN$100.00 per Subordinate Voting Share.
In connection with the Offering, the company said it will file a prospectus supplement to its short form base shelf prospectus dated March 26, 2025. The prospectus supplement will be 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 an effective registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System.
Bain and its affiliates currently hold 10,453,493 multiple voting shares of the company (Multiple Voting Shares) representing approximately 14.2 percent of the issued and outstanding shares of the company (Shares) and approximately 24.3 percent of the voting power attached to all of the Shares. Following the closing of the Offering, Bain and its affiliates will hold 8,603,493 Multiple Voting Shares, representing approximately 11.7 percent of the issued and outstanding Shares and approximately 20.7 percent of the voting power attached to all of the Shares.
The company said the net proceeds of the Offering will be paid directly to the Selling Shareholder. The company will not receive any proceeds from 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”.
The Offering is expected to close on or about December 23, 2025, subject to customary closing conditions.
Image courtesy Lynx/BRP, Inc.
