Performance Sports Group Ltd., formerly Bauer Performance Sports Ltd., priced 7.1 million shares it is offering through a public offering in the United States and Canada at $15.50 per share, or enough to raise gross proceeds of approximately $110 million.

While the company, formerly known as Bauer Performance Sports Ltd,. has traded on the Toronto Stock Exchange, the issue marks its initial public offering on the NYSE.

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 June 20, 2014. The common shares will then be dual listed on the NYSE and the Toronto Stock Exchange under the symbol “PSG”.
 
The company intends to use the net proceeds of the offering to reduce leverage and repay a portion of it'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.