/NOT FOR DISTRIBUTION IN THE UNITED STATES/
VANCOUVER, BC, Nov. 30,
2022 /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 November 14,
2022 (the "Offering") and the concurrent closing of
the exercise in full of the over-allotment option granted to the
Underwriter (as defined below) consisting of an aggregate of
1,500,000 subordinate voting shares of the Company
("Shares") held by certain entities owned and/or controlled,
directly or indirectly, by Brian
Hill, Founder and Executive Chair of Aritzia, or
Brian Hill and his immediate family
(collectively, the "Selling Shareholders"). The Shares
were offered at an offering price of $51.60 per Share for total gross proceeds to the
Selling Shareholders of $77,400,000.
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
November 25, 2022. 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, 20,437,349 multiple
voting shares, representing all of the multiple voting shares and
an equity interest of approximately 18.5%, and a voting interest of
approximately 69.5%, 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 536,210 options and 166,319 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.
In connection with the Offering, the automatic share purchase
plan established under the Company's normal course issuer bid
("NCIB") automatically terminated pursuant to its terms. The
Company does not expect any additional purchases under the NCIB to
be effected prior to its scheduled expiry on January 16, 2023.
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 a vertically integrated design house with an
innovative global platform, home to an extensive portfolio of
exclusive brands for every function and individual aesthetic. We're
about good design, quality materials, and timeless style that
endures and inspires — all with the wellbeing of our People and
Planet in mind. We call this Everyday Luxury.
Founded in 1984, in Vancouver,
Canada, we create and curate products that are both
beautiful and beautifully made, cultivate aspirational
environments, offer engaging service that delights, and connect
through captivating communications. We pride ourselves on providing
immersive and highly personal shopping experiences at aritzia.com
and in our 100+ boutiques throughout North America to everyone, everywhere.
Everyday Luxury. To Elevate Your
World.™
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. 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; (f) geopolitical
events; and (g) 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 5,
2022 for the fiscal year ended February 27, 2022 (the "AIF"). A copy of
the AIF and the Company's other publicly filed documents can be
accessed under the Company's profile on the System for Electronic
Document Analysis and Retrieval ("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.