Black Diamond Prices Public Offering of Common Stock
February 21, 2012
Black Diamond, Inc. (Nasdaq:BDE) announced the pricing of a public offering of 7,750,000 shares of common stock, valued at $0.0001 per share last week. The shares are all offered by Black Diamond in a primary offering, at $7.50 per share and are expected to close Wednesday, Feb. 22.
Piper Jaffray & Co. is acting as sole book runner, and Wm Smith & Co. is acting as co-manager for the offering. Black Diamond has granted the underwriters a 30-day option to purchase up to an aggregate of 1,162,500 additional shares of common stock.
Following the first day of sales on Feb. 16, Black Diamond raised almost $67 million with the initial offering, not including an extra 15 percent green shoe.
According to a press release, Black Diamond anticipates using the net proceeds of the offering for general corporate purposes, including repayment of debt, capital expenditures and potential acquisitions.
The securities are being offered by Black Diamond pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on February 1, 2011. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov .
Gina Barker, Park Record
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