Roots Corporation

Roots Corporation

October 02, 2017 11:39 ET

Roots Files Amended and Restated Preliminary Prospectus for Initial Public Offering of Common Shares

TORONTO, ONTARIO--(Marketwired - Oct. 2, 2017) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES

Roots Corporation ("Roots") today announced that it has filed an amended and restated preliminary long-form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in respect of its previously announced proposed initial public offering of common shares (the "Offering"). The Offering contemplates a secondary offering of common shares of Roots by investment funds managed by private equity firm Searchlight Capital Partners, L.P., and an entity indirectly controlled by the founders of Roots, Michael Budman and Don Green. The number of common shares to be sold and the price per common share have not yet been determined.

The Offering is being co-led by TD Securities Inc., Credit Suisse Securities (Canada), Inc. and BMO Capital Markets, together with Jefferies Securities, Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., as joint bookrunners, and CIBC World Markets Inc., Canaccord Genuity Corp. and National Bank Financial Inc., as underwriters.

The amended and restated preliminary long-form prospectus contains important information relating to Roots, the common shares and the Offering and is still subject to completion or amendment. Copies of the amended and restated preliminary long-form prospectus are available on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the (final) long-form prospectus has been issued.

No securities regulatory authority has either approved or disapproved the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the common 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 nor shall there be any sale of any securities of Roots in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Roots

Established in 1973, Roots is an iconic Canadian lifestyle brand with a rich heritage and portfolio of premium apparel, leather goods, accessories and footwear. We deliver products to our customers through our store network, online platform and international partnerships. As of July 29, 2017, our integrated omni-channel footprint included 116 corporate retail stores in Canada, 4 corporate retail stores in the United States, 109 partner-operated stores in Taiwan, 27 partner-operated stores in China and a global e-commerce platform that shipped to 54 countries during our most recently completed fiscal year.

Contact Information

  • Ed Yuen
    Investor Relations
    Solebury Communications Group LLC
    203-428-3216