David Pratt, chairman of the board of Gander Mountain Company reaffirmed his long-term investment position and involvement in the Company's operations. Commenting on a Securities and Exchange Commission registration statement on Form S-3 filed today by the company, Mr. Pratt said that he has no plans to change his investment position with the outdoor retailer or sell any company stock he owns.
An entity managed by Mr. Pratt invested approximately $50 million in the rapidly growing company and Mr. Pratt was elected chairman of the board in December 2006.
The S-3 filing was made today by Gander Mountain to register stock held by two former officers and one current officer of the Company, as well as by the Pratt entity. The Pratt entity's shares were registered pursuant to the customary registration rights that were granted to the Pratt entity as part of the December 2006 transaction.
“The Company filed the S-3 with the SEC today in order to fulfill its registration rights obligations pursuant to the 2006 investment,” said Mr. Pratt. “I have great confidence in Gander Mountain's business model and our ability to become the best outdoor retailer in the country. I'm excited about being a part of that success well into the future and have no plans to change my investment position.”