Performance Sports Group Ltd. (PSG) (formerly Bauer Performance Sports Ltd.), a developer and manufacturer of sports equipment and apparel, completed an underwritten initial public offering in the United States on the New York Stock Exchange and a new issue in Canada of 8,161,291 common shares at a price of US$15.50 per share, for a total of approximately US$126.5 million, including the exercise in full of the over-allotment option.
Morgan Stanley, BofA Merrill Lynch and RBC Capital Markets acted as joint book-running managers for a syndicate of underwriters in connection with the offering. The common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange.
PSG was represented by an in-house team led by Vice President and General Counsel, Michael Wall; and by Stikeman Elliott LLP, as Canadian counsel, by a team including Ian Putnam, Jonah Mann, Nick Badeen, Corinne Geller and Frank Selke (corporate and securities); and Dean Kraus and Katy Pitch (tax); by US counsel Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team including Andrew Foley, Alexis Fink and Emelia Baack (corporate and securities); and David Mayo and Lindsay Parks (tax).
The underwriters were represented by Norton Rose Fulbright Canada LLP, as Canadian counsel, with a team including Pierre Dagenais, Denno Chen and Hoori Chitilian (corporate and securities) and Adrienne Oliver (tax). The underwriters were also represented by US counsel Davis Polk & Wardwell LLP with a team including Richard Truesdell, Felipe Duque and Michael Newton (corporate and securities); Harry Ballan and Vinay Prabhakar (tax); Hayden Baker and Kevin Klesh (environmental) and Michelle Gross (intellectual property).