lululemon Completes US and Canadian IPO

On August 2, 2007, lululemon athletica inc. completed its initial public offering and a secondary offering of common stock for gross proceeds of US$376,740,000. Based in Vancouver, lululemon is one of North America's fastest-growing designers and retailers of yoga-inspired technical athletic apparel and accessories.

The offering was made in both Canada and the United States. Prior to the closing of the offering, lululemon undertook a complex cross-border reorganization of its capital structure and those of its subsidiaries, including the issuance by one of its subsidiaries of exchangeable shares by way of a plan of arrangement.

lululemon was represented in Canada a team from McCarthy Tétrault LLP, led by Rich Balfour and including Joyce Lee, Michael Urbani, Salima Datoo, Lynn Jenkins and Genevieve Pinto (corporate and securities); Rosemarie Wertschek, Steven Baum and Patrick McCay (tax); and Warren Milman and Miranda Lam (court approvals). The company was represented in the United States by a team from Pepper Hamilton LLP, comprised of Barry Abelson, Robert Friedel, John Duke, Robert Duncan Smith, Thao Le and Matthew Pilcher (corporate and securities) and Joan Arnold (tax).

The underwriters were represented by Kevin Kennedy, Daniel Webb, Sam Kwak and Kyle Wirth of Simpson Thacher & Bartlett LLP and Robert Lando, Jeffrey Murray and Julie Colden of Osler, Hoskin & Harcourt LLP. Dennis “Chip” Wilson, the founder of lululemon and a selling stockholder, was represented by Jonathan McCullough and James Beeby of McCullough O'Connor Irwin LLP.