Berkshire to sell more Aritzia shares in $115 mln secondary deal

Aritzia Inc (TSX: ATZ), a Vancouver-based women’s fashion brand, said U.S. private equity firm Berkshire Partners and another investor will sell subordinate voting shares for $16.55 per unit. The secondary offering is expected to generate proceeds of more than $100 million or more than $115 million if the greenshoe option is exercised in full. Upon completion of the offering, and assuming no exercise of the greenshoe option, Berkshire will hold about 22.4 percent of issued and outstanding shares and about 45.1 percent of the voting power attached to all of the shares. Aritzia went public in 2016, raising $460 million. Berkshire acquired the company in 2005.

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