Bauer Performance Sports has announced that Kohlberg & Co., the company's largest shareholder, has agreed to hold a secondary offering of 3.2 million shares of Bauer stock at 12.15 Canadian dollars (€8.67m-$11.74m) each. In addition, a syndicate of the underwriters that has entered into an agreement with the Kohlberg funds, co-led by RBC Capital Markets and Paradigm Capital, has been granted an over-allotment option to purchase up to an additional 480,000 shares. Bauer will not receive any proceeds from the secondary offering. Upon completion of the secondary offering, the ownership interest of the Kohlberg funds will be reduced from 30.3 percent to approximately 21.2 percent, or 14.7 percent if the over-allotment option is exercised. Closing of the offering is expected to occur around Nov. 1, 2013, subject to certain conditions, including approval by Canadian authorities.

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