Performance Sports Group Ltd. said it raised approximately $126.5 million in a public offering of 8,161,291 common shares in the U.S. and Canada, after including the exercise in full of the over-allotment option.
The Exeter, NH-based company’s common shares, which sold for $15.50 each, are dual listed on the New York Stock Exchange and the Toronto Stock Exchange under the stock symbol “PSG”. The company now has 39,606,451 outstanding common shares and 4,325 issued and outstanding proportionate voting shares, or an equivalent of 43,931,451 common shares.
PSG will use the net proceeds of the offering to reduce debt and repay approximately $119.5million of a term loan facility, which was used to finance the company’s recent acquisition of Easton Baseball/Softball.
Morgan Stanley, BofA Merrill Lynch and RBC Capital Markets acted as joint book-running managers for a syndicate of underwriters in connection with the Offering.
Performance Sports Group Ltd. develops, manufactures and markets ice hockey, roller hockey, lacrosse, baseball and softball sports equipment and apparel under the Bauer, Mission, Maverik, Cascade, Inaria, Combat and Easton brand names
