Sportsman's Warehouse Holdings Inc. announced that the underwriters of its initial public offering of common stock partially exercised the over-allotment option granted at the time of the initial public offering and have purchased an additional 1,400,000 shares.
The underwriters paid $9.50 per share, less underwriting discounts and commissions, to buy 350,000 shares from the company and 1,050,000 shares from affiliates of Seidler Equity Partners III, L.P.
The sale of the additional shares means Sportsman's Warehouse will net about $73.4 million from its IPO. The company has already used all of the $70.3 million of net proceeds from the IPO to repay amounts outstanding under its term loans. The company intends to use the additional net proceeds for general corporate purposes, which may include the repayment of additional amounts outstanding under its term loans.
