Spin Master completes $150M secondary offering




pcNewsWireSpin Master Corp. (TSX: TOY) has completed previously announced secondary offering of 3,681,000 subordinate voting shares at $40.75 per share for gross proceeds of approximately C$150 million.

Sellers are Marathon Investment Holdings Ltd. (controlled by co-CEO Ronnen Harary), Trumbanick Investments Ltd. (controlled by co-CEO Anton Rabie), LentilBerry Inc. (controlled by EVP & Chief Creative Officer, Ben Varadi), and 1-R32 Foundation, a not-for-profit charitable corporation controlled by Ronnen Harary

News Release

Spin Master Announces Closing of C$150 Million Secondary Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, ON, May 24, 2017 – Spin Master Corp. (“Spin Master” or the “Company”) (TSX: TOY; www.spinmaster.com), a leading global children’s entertainment company, today announced the completion of the previously announced secondary offering of 3,681,000 subordinate voting shares of the Company by the founders of the Company, through certain companies that they control, and 1-R32 Foundation, a not-for-profit charitable corporation controlled by one of the founders (collectively, the “Selling Shareholders”), at a price of $40.75, for aggregate gross proceeds to the Selling Shareholders of approximately C$150 million (the “Offering”).

The Company did not receive any proceeds from the sale of subordinate voting shares associated with the Offering.

The Offering was made through a syndicate of underwriters including RBC Capital Markets and TD Securities Inc. as co-lead underwriters and joint bookrunners, as well as BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Cormark Securities Inc., Goldman Sachs Canada Inc. and Raymond James Ltd.

The Selling Shareholders (other than 1-R32 Foundation) have granted to the underwriters an over-allotment option to purchase up to 552,150 additional subordinate voting shares, representing an additional 15% of the Offering, on the same terms and conditions, exercisable in whole or in part at any time following closing of the Offering for a period of 30 days. If exercised in full, this would increase the total size of the Offering to approximately C$172.5 million. One of the Selling Shareholders will be responsible for 1-R32’s portion of the over-allotment option.

All amounts expressed herein are in Canadian dollars.

About Spin Master Corp.

Spin Master (TSX:TOY; www.spinmaster.com) is a leading global children’s entertainment company that creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer®, Bakugan®, Meccano®, and 2017 Toys of the Year, Hatchimals®, Air Hogs® and PAW Patrol®. Since 2005, Spin Master has received 82 TIA Toy of The Year (TOTY) nominations with 21 wins across a variety of product categories, including 13 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. To date, Spin Master has produced six television series, including 2007 success Bakugan Battle Brawlers and current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 1,500 people globally with offices in Canada, United States, Mexico, France, Italy, United Kingdom, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan and Australia.

For further information:

Mark L. Segal
Executive Vice President and Chief Financial Officer
marks@spinmaster.com

SOURCE: Spin Master