By Sheri Kasprzak
New York, Sept. 7 - Smith & Wesson Holding Corp. said it has received definitive agreements for its $24.42 million private placement.
The company will issue 6 million shares at $4.07 each to a group of institutional investors.
The investors also received warrants for 1.2 million shares, exercisable for seven months after a registration statement is declared effective. The strike price of the warrants could not be determined by press time Wednesday.
SG Cowen & Co., LLC was the placement agent for the offering.
The company plans to use about $24 million of the proceeds to repurchase 9 million outstanding warrants.
Based in Springfield, Mass., Smith & Wesson makes firearms.
| Issuer: | Smith & Wesson Holding Corp.
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| Issue: | Stock
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| Amount: | $24.42 million
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| Shares: | 6 million
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| Price: | $4.07
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| Warrants: | For 1.2 million shares
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| Warrant expiration: | Seven months
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| Placement agent: | SG Cowen & Co., LLC
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| Announcement date: | Sept. 7
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| Stock price: | $4.95 at close Sept. 7
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