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Birkenstock Announces Pricing of Secondary Offering and Concurrent Share Repurchase
LONDON, GB / ACCESS Newswire / May 29, 2025 / Birkenstock Holding plc ("BIRKENSTOCK") announced today the pricing of an underwritten secondary public offering of 17,927,344 of BIRKENSTOCK's ordinary shares (the "Ordinary Shares") to be sold by BK LC …
LONDON, GB / ACCESS Newswire / May 29, 2025 / Birkenstock Holding plc ("BIRKENSTOCK") announced today the pricing of an underwritten secondary public offering of 17,927,344 of BIRKENSTOCK's ordinary shares (the "Ordinary Shares") to be sold by BK LC Lux MidCo S.à r.l. ("MidCo"), an entity affiliated with L Catterton (the "Selling Shareholder"), at a price to the public of $52.50 per share. In connection with the offering, the Selling Shareholder has granted the underwriters a 30-day option to purchase up to 2,100,000 additional Ordinary Shares. BIRKENSTOCK is not selling any Ordinary Shares in the offering and will not receive any proceeds from the sale of the Ordinary Shares by the Selling Shareholder.
The closing of the offering is expected to occur on May 30, 2025, subject to customary closing conditions.
Subject to the completion of this offering, BIRKENSTOCK has repurchased, by way of redemption from the underwriters, 3,927,344 Ordinary Shares that are subject to this offering, at a price per share equal to the price paid by the underwriters in the offering, which redeemed Ordinary Shares will be cancelled and no longer outstanding following the completion of the redemption.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers and BofA Securities as joint bookrunner of, and all three banks as representatives of the underwriters for, the proposed offering. Citigroup, Evercore ISI, Jefferies, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities, BMO Capital Markets, and BNP PARIBAS are acting as bookrunners for the proposed offering, and Baird, BTIG, Piper Sandler, Stifel, Telsey Advisory Group, William Blair, Williams Trading LLC and Academy Securities are acting as co-managers for the proposed offering.
An automatic shelf registration statement on Form F-3ASR (File No. 333-284905) relating to the resale of the Ordinary Shares was previously filed by BIRKENSTOCK with the United States Securities and Exchange Commission (the "SEC") and became effective upon filing on February 13, 2025 (the "Registration Statement"). Before you invest, you should read the prospectus and the documents incorporated by reference in that Registration Statement, as well as the prospectus supplement related to the offering, for more complete information about BIRKENSTOCK and the offering. You may obtain these documents for free by visiting the SEC website at www.sec.gov. Copies of the preliminary prospectus relating to the proposed offering may also be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, or via email: [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or via email: [email protected] and [email protected]; and BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, via email: [email protected].
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