lululemon athletica inc. (NASDAQ:LULU; TSX:LLL) announced today that, in
accordance with certain pre-existing contractual obligations, it filed a
shelf registration statement with the Securities and Exchange Commission
covering the registration of 20,935,041 shares of the Company’s
Common Stock that are currently represented by an equal number of shares
of the Company’s Special Voting Stock. The
registration does not and will not affect the number of shares of Common
Stock deemed outstanding or otherwise affect earnings per share or other
share-based metrics. The Company will not receive any proceeds from
issuances of Common Stock under the registration statement.
The Company is contractually obligated to register the Common Stock
pursuant to the terms of the Agreement and Plan of Reorganization, dated
April 26, 2007, that the Company entered into in connection with the
pre-IPO reorganization of the Company. The registration statement
registers the issuance of 20,935,041 shares of Common Stock that may be
issued from time to time upon the exchange, retraction or redemption of
currently-outstanding Exchangeable Shares of Lulu Canadian Holding,
Inc., a wholly-owned subsidiary of the Company, or upon the liquidation,
dissolution or winding up of Lulu Canadian Holding, Inc. The
Exchangeable Shares were issued to Canadian stockholders in connection
with our pre-IPO reorganization, and the Company has previously
disclosed in its reports filed with the Securities and Exchange
Commission that 20,935,041 Exchangeable Shares and 20,935,041 shares of
Special Voting Stock are outstanding.
With the issuance of the registered shares of Common Stock upon such
exchange, retraction or redemption of outstanding Exchangeable Shares,
the Company will cancel an equal number of currently outstanding
Exchangeable Shares of Lulu Canadian Holding, Inc. as well as an equal
number of currently outstanding shares of the Company’s
Special Voting Stock, so there will be no change in the number of shares
of Common Stock deemed outstanding.
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live longer,
healthier and more fun lives. By producing products that help keep
people active and stress free, lululemon believes that the world will be
a better place. Setting the bar in technical fabrics and functional
designs, lululemon works with yogis and athletes in local communities
for continuous research and product feedback. For more information, http://www.lululemon.com.
Forward-Looking Statements:
This press release contains “forward-looking
statements” within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 that involve risks, uncertainties and assumptions, such as
statements regarding our future financial condition. In many cases, you
can identify forward-looking statements by terms such as “may,”
“will,” “should,”
“expects,” “plans,”
“anticipates,” “believes,”
“intends,” “estimates,”
“predicts,” “potential”
or the negative of these terms or other comparable terminology. These
forward-looking statements are based on management's current
expectations but they involve a number of risks and uncertainties.
Actual results and the timing of events could differ materially from
those anticipated in the forward-looking statements as a result of risks
and uncertainties, which include, without limitation, those risk factors
detailed in our filings with the Securities and Exchange Commission,
including risk factors contained in our Annual Report on Form 10-K for
our 2007 fiscal year, and other filings we make with the SEC. Our
filings with the SEC are available at www.sec.gov.
You are urged to consider these factors carefully in evaluating the
forward-looking statements herein and are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by this cautionary statement. The forward-looking
statements made herein speak only as of the date of this press release
and the company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
Investors:
ICR
Joseph Teklits, 203-682-8258
or
Media:
FD
Evan
Goetz / Diane Zappas, 212-850-5600
