Gander Mountain Company has announced the pricing of its initial public offering of 5,725,000 shares of its common stock at a price of $16.00 per share. All of the shares are being sold by Gander Mountain. In addition, Gander Mountain has granted the underwriters a 30-day option to purchase up to an additional 858,750 shares at the initial public offering price to cover over-allotments, if any. Gander Mountain's common stock will be quoted on the Nasdaq National Market under the symbol “GMTN” beginning on April 21, 2004.
Banc of America Securities LLC and William Blair & Company, L.L.C. are acting as joint book-running managers and Piper Jaffray & Co. is acting as co-manager. The offering is expected to close on April 26, 2004. Gander Mountain will use the net proceeds of the offering to repay outstanding indebtedness.
