Smith & Wesson Announces Public Offering of 5,500,000 Shares
May 7, 2009 8:00 AM ET
SPRINGFIELD, Mass., May 7 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corporation SWHC, parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced that it has priced a public offering of 5,500,000 shares of its common stock at $6.25 per share. The approximately $32 million of net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, will be used for corporate purposes, which may include the purchase of additional equipment to expand manufacturing capacity to satisfy product demand, the purchase of outstanding debt, and strategic relationships and acquisitions. The offering is expected to close on May 12, 2009, subject to the satisfaction of customary closing conditions.
Stock was a little over $7.00 on Thurs, now $6.15 this morning.
Since I heard they were working 24/7 on the AR line, and have now sold a couple very large orders to Detroit & Minneapolis for M&P's and AR's would this signal a plant expansion?
Hope the stock gets back above $7.00 again soon, as I had a target to sell mine.
May 7, 2009 8:00 AM ET
SPRINGFIELD, Mass., May 7 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corporation SWHC, parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced that it has priced a public offering of 5,500,000 shares of its common stock at $6.25 per share. The approximately $32 million of net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, will be used for corporate purposes, which may include the purchase of additional equipment to expand manufacturing capacity to satisfy product demand, the purchase of outstanding debt, and strategic relationships and acquisitions. The offering is expected to close on May 12, 2009, subject to the satisfaction of customary closing conditions.
Stock was a little over $7.00 on Thurs, now $6.15 this morning.
Since I heard they were working 24/7 on the AR line, and have now sold a couple very large orders to Detroit & Minneapolis for M&P's and AR's would this signal a plant expansion?
Hope the stock gets back above $7.00 again soon, as I had a target to sell mine.
