/NOT FOR DISTRIBUTION IN THE UNITED STATES/
VANCOUVER, BC, June 1, 2021 /CNW/ - Aritzia Inc.
("Aritzia" or the "Company") (TSX: ATZ), a vertically
integrated, innovative design house of exclusive fashion brands
offering Everyday Luxury in its boutiques and online, today
announced the closing of the secondary offering announced on
May 13, 2021 (the "Offering"),
consisting of 3,040,700 subordinate voting shares of the Company
("Shares") held by certain entities owned and/or controlled,
directly or indirectly, by Brian
Hill, Founder, Chief Executive Officer and Chairman of
Aritzia, or Brian Hill and his
immediate family (collectively, the "Selling
Shareholders"). The Shares were offered at an offering
price of $30.00 per Share (the
"Offering Price") for total gross proceeds to the Selling
Shareholders of $91,221,000. All net
proceeds from the Offering have been paid to the Selling
Shareholders. The Company will not receive any proceeds from the
Offering.
The Offering was led by CIBC Capital Markets (the
"Underwriter") and made on a bought deal basis pursuant to a
final short form prospectus (the "Prospectus") dated
May 27, 2021. The Underwriter has
confirmed that the over-allotment option granted by the Selling
Shareholders to the Underwriter will not be exercised. The
Prospectus has been filed with the Canadian securities regulators
and is available under the Company's SEDAR profile at
www.sedar.com.
Immediately following closing of the Offering, Mr. Hill holds,
through entities owned and/or controlled, directly or indirectly,
by him or by him and his immediate family, 21,937,349 multiple
voting shares, representing all of the multiple voting shares and
an equity interest of approximately 19.9%, and a voting interest of
approximately 71.3%, in each case, on a non-diluted basis. Mr. Hill
no longer holds, directly or indirectly, any subordinate voting
shares following closing of the Offering. In addition, Mr. Hill
holds 358,527 options and 96,836 performance share units of the
Company. Each multiple voting share represents ten votes on all
matters upon which holders of shares in the capital of Aritzia are
entitled to vote and is convertible into one subordinate voting
share at any time at the sole option of the holder.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The Shares have
not been registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state
securities laws. Accordingly, the Shares may not be offered or sold
within the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to exemptions from the registration
requirements of the U.S. Securities Act and applicable state
securities laws. This news release does not constitute an offer to
sell or a solicitation of an offer to buy any securities of Aritzia
in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
About Aritzia
Aritzia is an innovative design house and fashion boutique. We
conceive, create, develop and retail fashion brands, each with its
own vision and distinct aesthetic point of view and all with a
depth of design and quality that provide compelling value. As a
group, they are united by an effortless appeal, a focus on fit and
an of-the-moment point of view.
Founded in Vancouver in 1984,
Aritzia has more than 100 locations in select cities across
North America, including
Vancouver, Toronto, Montreal, New
York, Los Angeles,
San Francisco and Chicago. We pride ourselves on creating
immersive, human and highly personal shopping experiences, both in
our boutiques and on aritzia.com — with a focus on delivering
Everyday Luxury.
Forward-Looking Information
Certain statements made in this press release may constitute
forward-looking information under applicable securities laws.
Particularly, information regarding our expectations of future
results, targets, performance achievements, prospects or
opportunities is forward-looking information. As the context
requires, this may include certain targets as disclosed in the
prospectus for our initial public offering, which are based on the
factors and assumptions, and subject to the risks, as set out
therein and herein. Often but not always, forward-looking
statements can be identified by the use of forward-looking
terminology such as "may", "will", "expect", "believe", "estimate",
"plan", "could", "should", "would", "outlook", "forecast",
"anticipate", "foresee", "continue" or the negative of these terms
or variations of them or similar terminology.
Given this unprecedented period of uncertainty, there can be no
assurances regarding: (a) the limitations or restrictions that may
be placed on servicing our clients in reopened boutiques or
potential re-closing of boutiques; (b) the COVID-19-related impacts
on Aritzia's business, operations, supply chain performance and
growth strategies, (c) Aritzia's ability to mitigate such impacts,
including ongoing measures to enhance short-term liquidity, contain
costs and safeguard the business; (d) general economic conditions
related to COVID-19 and impacts to consumer discretionary spending
and shopping habits; (e) credit, market, currency, interest rates,
operational, and liquidity risks generally; and (f) other risks
inherent to Aritzia's business and/or factors beyond its control
which could have a material adverse effect on the Company.
Many factors could cause our actual results, level of activity,
performance or achievements or future events or developments to
differ materially from those expressed or implied by the
forward-looking statements, including, without limitation, the
factors discussed in the "Risk Factors" section of the Company's
annual information form dated May 11,
2021 for the fiscal year ended February 28, 2021 (the "AIF"). A copy of the AIF
and the Company's other publicly filed documents can be accessed
under the Company's profile on SEDAR at www.sedar.com.
The Company cautions that the list of risk factors and
uncertainties described in the AIF is not exhaustive and other
factors could also adversely affect its results. Readers are urged
to consider the risks, uncertainties and assumptions carefully in
evaluating the forward-looking information and are cautioned not to
place undue reliance on such information. The forward-looking
information contained in this press release represents our
expectations as of the date of this press release (or as the date
they are otherwise stated to be made), and are subject to change
after such date. However, we disclaim any intention or obligation
or undertaking to update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required under applicable securities laws.
SOURCE Aritzia Inc.