Zumiez, the 140-door action sports retailer that is gearing up for an Initial Public Offering, filed an amended S-1 with the SEC on Thursday pricing 1.875 million shares in the $15 to $17 per share range. At that range, the total raised in the IPO would be between $28.1 million and $31.9 million, far less than the $57.5 million that was indicated in the initial registration filing.

The difference appears to be made up by the 1.25 million shares that will be sold by current shareholders, who will pocket between $18.8 million and $21.3 million in the offering. The selling shareholders have also granted underwriters the option to purchase up to 468,750 additional shares. Zumiez will not see any of the proceeds from the sale of shareholder shares.

Brentwood Private Equity III LLC is selling roughly 892,000 of its 4.3 million shares and Zumiez chairman Thomas Campion is selling 250,000 of his approximately 4.1 million shares. Other shareholders will sell the balance of approximately 118,000 shares. Brentwood would pocket about $14.3 million in the deal at the $16.00 pricing mid-point and Campion would cash in for about $4.0 million.

The Everett, Wash. based retailer plans to use the net proceeds from the offering to “fund new store openings and growth, for working capital and for other general corporate purposes.”

Zumiez is expected to trade on the NASDAQ exchange under the ticker symbol “ZUMZ”. There was no further details regarding the timing of the IPO. The deal is being underwritten by Wachovia Securities, Piper Jaffray and William Blair & Co.