Deckers Outdoor Corporation announced the pricing of its public offering of 3,500,000 shares of common stock at a price of $24.75 per share. The Company is selling 1,500,000 shares, and certain stockholders, including Douglas B. Otto, Chief Executive Officer, and other employees, members of management and members of the Board of Directors of the Company, are selling an additional 2,000,000 shares. 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 Company plans to use the net offering proceeds to it to repay all of its outstanding long-term debt and for working capital and other general corporate purposes.
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 co-managers.
