Underwriters of the outdoor specialty chain's Apr.17 IPO, among them Credit Suisse,Goldman,Sachs and William Blair,have elected to acquire 75% of an overallotment of 1875000 Spotman's Warehouse shares at $9.50 per. The total includes 350000 SPWH shares by the retailer and 1050000 shares from affiliates of Seidler Equity. Sportsman's Warehouse, which used $70.3 million of net proceeds from the IPO to partially repay its term loans, will utilize the additional $3,3325000 in gross proceeds from the overallotment sale for general corporate purposes, which may include the repayment of additional amounts on its term loans.
SPWH shares havetraded between $7.75 and $11.00 since the IPO, including $7.99 earlier today. The retaier has a current market capitalization of $332.35 million.
