Brp Inc (TSE:DOO) has released an update.
BRP Inc. has successfully completed a secondary offering, where Bain Capital sold 1.5 million subordinate voting shares at C$92.90 each, resulting in gross proceeds of C$139.35 million that went directly to the selling shareholder. The company, a leader in powersports products and propulsion systems, did not receive any proceeds from the transaction. Following the offering, Bain retains approximately 16.16% of BRP’s issued and outstanding shares and about 27.19% of the voting power.
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