LEXPERT MAGAZINE
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JANUARY/FEBRUARY 2017 21
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CORPORATE TRANSACTIONS OF IMPORTANCE
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ARITZIA
COMPLETES IPO
CLOSING DATE: OCTOBER 3, 2016
On October 3, 2016, Aritzia Inc. ("Aritzia"
or the "Company") completed its initial pub-
lic offering of 25 million subordinate voting
shares (the "Shares") for a price of $16.00 per
Share for aggregate gross proceeds of $400
million (the "Offering"). e Shares were
sold by way of secondary offering by CanLux
AB Investments One S.à r.l.(the "Berkshire
Shareholder"), an investment vehicle man-
aged by Berkshire Partners LLC, and by Atil-
ier Holdings Inc. and AHI Holdings Inc.,
each of which is an entity controlled by Brian
Hill, Aritzia's Founder and Chief Executive
Officer (collectively, the "Hill Shareholders",
and together with the Berkshire Shareholder,
the "Selling Shareholders").
e Offering was underwritten by a syn-
dicate of underwriters led by CIBC World
Markets Inc., Merrill Lynch Canada Inc.,
and TD Securities Inc. and included BMO
Nesbitt Burns Inc., RBC Dominion Secu-
rities Inc., Scotia Capital Inc., Canaccord
Genuity Corp., Robert W. Baird & Co. Inc.,
William Blair & Company, L.L.C. and Hay-
wood Securities Inc. (the "Underwriters").
e Selling Shareholders granted the
Underwriters an over-allotment option to
purchase up to an additional 3,750,000 sub-
ordinate voting shares for additional gross
proceeds of $60 million, which was exercised
in full by the Underwriters and closed on
October 6, 2016.
e Shares were offered in each of the
provinces and territories of Canada by way of
a prospectus dated September 26, 2016, and
in the United States on a private-placement
basis pursuant to a private-placement memo-
randum dated September 26, 2016.
Aritzia was represented in-house by Ada
San (Co-General Counsel) and Amy Frankel
(Co-General Counsel).
Stikeman Elliott LLP acted as Canadian
counsel to Aritzia and the Berkshire Share-
holder with a team that included David Mc-
Carthy, Jonah Mann, Ramandeep Grewal,
Paul Rakowski, Brandon Hoffman, Rachel
Wasserman and Rolake Adeniran (securities,
Toronto), Denise Duiuis and Shona Sin-
clair (securities, Vancouver), John Lorito and
Lindsay Gwyer (tax), Katy Pitch (executive
compensation), Kris Noonan (employment,
Calgary) and Howard Rosenoff (banking).
Paul, Weiss, Riind, Wharton & Gar-
rison LLP acted as US counsel to Aritzia
with a team that included Andrew Foley and
Rebecca Vasluianu (securities).
Blake, Cassels & Graydon LLP acted as
Canadian counsel to the Underwriters with
a team including Kathleen Keilty, Chris He-
wat, Jamie Kariya, Evan Straight and Andrea
Lejay (securities) and Kevin Zimka (tax).
Skadden, Arps, Slate, Meagher & Flom
LLP acted as US counsel to the Underwrit-
ers with a team that included Riccardo Leo-
fanti and Ryan Hickey (securities).
McCarthy Tétrault LLP was Canadian
counsel to Brian Hill and the Hill Share-
holders with a team including Genevieve
Pinto, David Woollcombe, Claire Sung,
Ainslie Hurd, Cameron Belsher (securities).
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