Deckers Corp. has announced that it is conducting a public stock offering of 3.5 million shares at $24.75 per share. 1.5 million shares of the offering will come from the company’s coffers while 2.0 million are being offered by corporate officers, including DECK CEO Doug Otto, other employees, members of management, and members of the Board of Directors.

In addition, the selling stockholders have granted the underwriters an option to purchase an additional 525,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on May 18, 2004, subject to customary conditions.

The 1.5 million new shares on the market will raise approximately $37.1 million, which will be used to repay all of DECK’s outstanding long-term debt and for working capital and other general corporate purposes.

Several prominent banks have their hands in the pot on this transaction. The lead managing underwriter of the offering is RBC Capital Markets Corporation. Piper Jaffray & Co. is co-lead manager, and SG Cowen Securities Corporation, D.A. Davidson & Co., First Albany Capital, Inc., and Wedbush Morgan Securities, Inc. are all co-managers.