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BAU Blue Star Gold Corp

0.125
-0.005 (-3.85%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Blue Star Gold Corp TSXV:BAU TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -3.85% 0.125 0.125 0.135 0.13 0.125 0.13 189,550 20:44:34

Bauer Performance Sports Announces Secondary Offering of Shares by the Kohlberg Funds

10/10/2013 9:17pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Bauer Performance Sports Ltd. ("Bauer" or the "Company") (TSX:BAU) today
announced that funds advised or managed by Kohlberg Management VI, LLC (the
"Kohlberg Funds"), Bauer's largest shareholder, have entered into an agreement
with a syndicate of underwriters co-led by RBC Capital Markets and Paradigm
Capital Inc. for a secondary offering, on a bought deal basis, of 3,200,000
common shares of the Company at an offering price of Cdn$12.15 per common share.
In addition, the syndicate has been granted an over-allotment option by the
Kohlberg Funds, exercisable for a period of 30 days from closing, to purchase up
to an additional 480,000 common shares. Bauer will not receive any proceeds from
the secondary offering.


Pursuant to a registration rights agreement executed between the Kohlberg Funds
and other shareholders of Bauer prior to its initial public offering, certain
other shareholders of Bauer that held shares prior to the initial public
offering have the right to elect to participate in the secondary offering. To
the extent any of these shareholders elect to participate in the secondary
offering, the number of common shares to be sold by the Kohlberg Funds will
correspondingly be reduced. The Kohlberg Funds currently own an equivalent of
30.3% of the issued and outstanding common stock of Bauer on a non-diluted
basis. Assuming no other shareholders elect to participate in the secondary
offering but before giving effect to the over-allotment option, the ownership
interest of the Kohlberg Funds will, upon completion of the secondary offering,
be reduced to approximately 21.2%. 


A preliminary short-form prospectus relating to the offering will be filed
shortly with Canadian securities regulatory authorities. Closing of the offering
is expected to occur on or about November 1, 2013 and is subject to certain
conditions, including the approval of the Canadian securities regulatory
authorities.


This press release shall not constitute an offer to sell or a solicitation of an
offer to buy, which may be made only by means of the prospectus, nor shall there
be any sale of the common shares in any state, province or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any state, province or
jurisdiction. The common shares to be sold pursuant to the secondary offering
have not been and will not be registered under the U.S. Securities Act of 1933,
as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registrations requirements of
such Act. This press release shall not constitute and offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction.


ABOUT BAUER PERFORMANCE SPORTS LTD. 

Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer and manufacturer
of ice hockey, roller hockey, lacrosse, baseball and softball equipment as well
as related apparel. The company has the most recognized and strongest brand in
the ice hockey equipment industry, and holds the top market share position in
both ice and roller hockey. Its products are marketed under the BAUER, MISSION,
MAVERIK, CASCADE, INARIA and COMBAT brand names and are distributed by sales
representatives and independent distributors throughout the world. Bauer
Performance Sports is focused on building its leadership position and growing
market share in all product categories through continued innovation at every
level. For more information, visit www.bauerperformancesports.com. 


Caution Concerning Forward-Looking Statements

Certain statements in this press release about Bauer's current and future plans,
expectations and intentions, or any other future events or developments
constitute forward-looking statements. The words "will", "expects", "plans",
"intends", "estimates" or "potential" or the negative or other variations of
these words or other comparable words or phrases, are intended to identify
forward-looking statements. Forward-looking statements are based on assumptions
made by Bauer in light of its experience and perception of historical trends,
current conditions and expected future developments, as well as other factors
that are believed to be appropriate and reasonable in the circumstances, but
there can be no assurance that such estimates and assumptions will prove to be
correct. Many factors could cause future events or developments to differ
materially from those expressed or implied by the forward-looking statements,
including, without limitation, general economic and market conditions and
current adverse economic conditions. The purpose of the forward-looking
statements is to provide the reader with a description of management's
expectations and may not be appropriate for other purposes; readers should not
place undue reliance on forward-looking statements made herein. Furthermore,
unless otherwise stated, the forward-looking statements contained in this press
release are made as of the date hereof, and we have no intention and undertake
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law. The forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
INVESTOR INQUIRIES: Bauer Performance Sports Ltd.
Amir Rosenthal
Chief Financial Officer
603-610-5802
investors@bauerperformancesports.com


Spinnaker Capital Markets Inc.
Kevin O'Connor / Ali Mahdavi
416-962-3300
ko@spinnakercmi.com


MEDIA INQUIRIES: Bauer Performance Sports Ltd.
Tory Mazzola
Global Communications Manager
603-430-2111
media@bauerperformancesports.com
www.bauerperformancesports.com

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