Sportsman's Warehouse Prices IPO Below Range

(RTTNews) - Sportsman's Warehouse Holdings Inc said Wednesday it has priced its initial public offering of 12.5 million common shares at a price to the public of $9.50 per share, which is below the previously estimated price range of $11.00 to $13.00 per share.

The offering consists of 8.33 million common shares sold by Sportsman's and about 4.16 million common shares sold by affiliates of Seidler Equity Partners III, L.P.

The shares are expected to begin trading on The NASDAQ Global Select Market under the symbol "SPWH" beginning on April 17.

In addition, Sportsman's and Seidler have granted the underwriters a 30-day option to purchase up to an additional 468,750 shares from Sportsman's and an additional 1.4 million shares from Seidler.

The net proceeds to Sportsman's is expected to be about $70.3 million. The company plans to use the proceeds to repay amounts outstanding under its term loans.

Midvale, Utah-based Sportsman's Warehouse was founded in 1986. The company clocked sales of $643 million for the fiscal year ended February 2014.