BRP and Its Principal Shareholder Announce C$75,450,000 Bought Deal Secondary Offering

VALCOURT, Quebec, Oct. 15, 2020 (GLOBE NEWSWIRE) -- BRP Inc. (TSX:DOO; NASDAQ:DOOO) (“BRP” or the “Company”) announced today that Bain Capital Luxembourg Investments S.a r.l. in liquidation (“Bain” or the “Selling Shareholder”), and the Company have entered into an agreement with BMO Capital Markets to complete a secondary offering on a bought deal basis (the “Offering”). Under the agreement, BMO Capital Markets has agreed to purchase 1,000,000 subordinated voting shares of the Company at a purchase price of C$75.45 per subordinate voting share for total gross proceeds to the Selling Shareholder of C$75,450,000.

In connection with the Offering, the Company will file a preliminary prospectus supplement to its short form base shelf prospectus dated September 24, 2020. The preliminary prospectus supplement will be filed with the securities regulatory authorities in each of the provinces and territories of Canada as well as with the U.S. Securities and Exchange Commission (SEC) as part of a registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System.

Bain currently holds 17,796,615 Multiple Voting Shares representing approximately 20.2% of the issued and outstanding Shares and approximately 33.6% of the voting power attached to all of the Shares. Following the closing of the Offering, Bain will hold 16,796,615 Multiple Voting Shares, representing approximately 19.1% of the issued and outstanding Shares and approximately 32.3% of the voting power attached to all of the Shares.

The net proceeds of the Offering will be paid directly to the Selling Shareholder. The Company will not receive any proceeds from the Offering.

BRP's subordinate voting shares are listed on the Toronto Stock Exchange (TSX) and Nasdaq Global Select Market (NASDAQ) under the symbol “DOO” and “DOOO”, respectively.

The Offering is expected to close on or about October 21, 2020, subject to customary closing conditions.

The Offering is being made only by means of the prospectus supplement and the registration statement which contain important information about the Offering. When available, a copy of the preliminary prospectus supplement, and the prospectus supplement, can be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and a copy of the registration statement can be found on EDGAR at www.sec.gov. When available, copies of the prospectus supplement relating to the Offering may be obtained upon request in Canada by contacting BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at [phone] Ext. 4312 or by email at [e-mail], and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate). Prospective investors should read the preliminary prospectus supplement and registration statement before making an investment decision.