Aritzia closes IPO over-allotment option

Canadian apparel retailer Aritzia Inc. (TSX:ATZ) announced Thursday that, further to its recently completed secondary offering of 25,000,000 subordinate voting shares at a price of 16.00 dollars per share, the over-allotment option granted to the underwriters was exercised in full for additional gross proceeds of 60,000,000 dollars.

Selling shareholders were entities controlled by Brian Hill, Aritzia's Founder and Chief Executive Officer, and the investment vehicle managed by Boston-based private equity firm Berkshire Partners LLC.

The sale of the additional subordinate voting shares ups the aggregate gross proceeds of the selling shareholders to 460,000,000 dollars.

As highlighted by the company in a communication issued Thursday before the market opened in Toronto, the subordinate voting shares are listed under the symbol "ATZ" on the Toronto Stock Exchange.

Following the closing of the over-allotment option, there are 31,747,826 subordinate voting shares issued and outstanding, as well as 75,196,479 multiple voting shares which are convertible into subordinate voting shares on a one-for-one basis.

The offering was made through a syndicate of underwriters led by CIBC Capital Markets, Merrill Lynch Canada Inc. and TD Securities Inc., as joint book runners.