On June 20, five days after the publication of its stellar results for the last financial year (see the article in this issue), Canada Goose announced a secondary offering for 10 million subordinate voting shares by three of its shareholders, corresponding to about 9 percent of its equity. Bain Capital, which acquired a majority stake in the company in 2013, is offering to sell 8,400,000 of its 47,763,742 shares. Dani Reiss, the chief executive and former major shareholder, will sell 1,500,000 of his 23,156,650 shares. The company's chief financial officer, John Black, plans to sell 100,000 of his 178,271 shares. The offering is not priced, but based on the current share price of $58.88, which is down from around $63 at the time of the announcement, Bain would get $495 million, Reiss $88.3 million and Black $5.9 million.
Related articles
-
News briefsGreen Theme Technologies secures $6m for expansion
The US sustainable textile and materials science company raised funding to advance eco-friendly technologies for various high-performance markets.
-
ArticleAccell Group secures creditor support for recapitalization
The company’s creditors approved the restructuring plan, paving the way for recapitalization implementation.
-
News briefsNewell Brands prices $1.25bn in notes to refinance debt and extend maturity profile
The parent of Marmot, Coleman, Contigo and Campingaz has announced $1.25 billion in new notes to refinance existing debt, supporting longer-term financial flexibility.