Smith & Wesson Prices 5.5 Million Common Shares
May 7, 2009 (FinancialWire) — Smith & Wesson Holding Corp. (NASDAQ: SWHC) has priced a public offering of 5.5 million shares of its common stock at $6.25 per share. The underwriters for the offering are Deutsche Bank Securities (NYSE: DB), Cowen and Co. (NASDAQ: COWN) and Merriman Curhan Ford (NASDAQ: MERR).
The underwriters have been granted a 30-day option to purchase up to an additional 500,000 shares to cover over-allotments.
Smith & Wesson said it would use the roughly $32 million of net proceeds for corporate purposes, which may include the purchase of additional equipment to expand manufacturing capacity, the purchase of outstanding debt, and strategic relationships and acquisitions.
The offering is scheduled to close on May 12.
Springfield, Massachusetts-based Smith & Wesson is a manufacturer of firearms and firearm safety/security products. It owns Thompson/Center Arms, a designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand.
Smith & Wesson also licenses shooter protection, knives, apparel, and other accessory lines.
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