Coliseum Capital cuts Performance Sports stake to 9.5% from 9.8%
According to a regulatory filing, Performance Sports Group said its financial advisor provided Coliseum Capital, which owns a 9.5% active stake in the company, with the necessary consent to commence discussions with an affiliate of one of the co-owners of the purchaser under the Asset Purchase Agreement that the company entered in connection with its restructuring process and its representatives about the possibility of the Reporting Persons and the Purchaser, and/or one or more entities to be formed at their direction, acting together with respect to potential plans or proposals related to a potential transaction involving company. The discussions among Coliseum and representatives of the purchaser are ongoing. It is uncertain whether Coliseum and the purchaser, and/or an entity formed thereby, on the one hand, and the company, on the other hand, will agree to any definitive agreement with respect to any potential transaction, or that any deal will occur. Further, there can be no assurance that the purchaser and Coliseum will reach any agreement on, or submit a plan or proposal with respect to, any potential transaction, or that a deal will occur.