By Sheri Kasprzak
New York, Dec. 12 - Gander Mountain Co. is gearing up to close a private placement of its stock for $50 million.
David C. Pratt, founder of United Industries, agreed to buy 5,701,255 shares at $8.77 each.
The deal is set to close on Wednesday. When the deal closes, Pratt will become chairman of the company's board of directors.
Proceeds will be used for new store openings and other expenses.
Gander Mountain, based in St. Paul, Minn., operates a chain of retail stores for hunting, fishing and camping products.
| Issuer: | Gander Mountain Co.
|
| Issue: | Stock
|
| Amount: | $50 million
|
| Shares: | 5,701,255
|
| Price: | $8.77
|
| Warrants: | No
|
| Investor: | David C. Pratt
|
| Announcement date: | Dec. 12
|
| Settlement date: | Dec. 13
|
| Stock symbol: | Nasdaq: GMTN
|
| Stock price: | $8.84 at close Dec. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
