Sportsman's Warehouse Holdings, Inc. said it expects to raise approximately $70.3 million from its initial public offering after deducting underwriting discounts and commissions and other offering costs. The offering of 12.5 million shares was priced Wednesday at $9.50 per share, below the projected price range of $11.00 to $13.00 a share.

Sportsman's Warehouse sold 8.33 million shares while 4.17 million was sold by affiliates of Seidler Equity Partners III, L.P.. The shares are expected to begin trading on The NASDAQ Global Select Market under the symbol “SPWH” beginning Thursday, April 17. The offering is expected to close on or about April 23 subject to customary conditions.

In addition, Sportsman's and Seidler have granted the underwriters a 30-day option to purchase up to an additional 468,750 shares from Sportsman's and an additional 1.41 million shares from Seidler.

Sportsman's intends to use all of the net proceeds to it from this offering to repay amounts outstanding under its term loans.

Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers and the representatives of the underwriters. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Piper Jaffray & Co., Wells Fargo Securities and D.A. Davidson & Co. are acting as co-managers.