Canadian fashion company Aritzia to secure $329.6 mln via share offering

Canadia-based Aritzia Inc., a women's fashion brand company, has agreed to sell 19.5 million subordinate voting shares of the company held by the selling shareholders at an offering price of $16.90 per share for total gross proceeds to the selling shareholders of $329.6 million.

Under the deal, the selling shareholders have signed an agreement with a syndicate of underwriters led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc., pursuant to which the underwriters have agreed to buy the shares on a bought deal basis.

The proceeds from the offering are expected to support The Bensadoun Family Foundation, consistent with all prior secondary offerings of the company.

The offering is expected to close on or about March 8, 2019. Following the closure, the selling shareholders will have no remaining equity interest in Aritzia.