The Hockey Company Holdings Inc. announced that it has entered into an Underwriting Agreement in connection with its initial public offering of 4,500,000 common shares at a price of $16.00 per share for gross proceeds of $72,000,000 and filed a final prospectus therefor in Canada.
The Toronto Stock Exchange has conditionally approved the listing of the common shares under the symbol “HCY”, subject to the company fulfilling all the requirements of the Toronto Stock Exchange.
The offering is led by Merrill Lynch Canada Inc., and the underwriting syndicate also includes Scotia Capital Inc. and National Bank Financial Inc.
Proceeds received from this offering will be used by The Hockey Company Holdings Inc. (i) to pre-pay certain royalty payments under a new exclusive license agreement with the National Hockey League; (ii) to repurchase all of the outstanding Preferred Stock of The Hockey Company, together with all accrued and unpaid dividends thereon; and (iii) the remainder for working capital and general corporate purposes.
