Footwear designer Crocs Inc announced the pricing of an underwritten secondary public offering of 8,290,000 shares of its common stock by certain of its stockholders at a public offering price of $27.66.
The underwriters have a 30-day option to purchase up to an additional 1,243,500 shares of common stock from certain stockholders to cover over-allotments, if any. All of the shares will be sold by stockholders of Crocs, and, as a result, Crocs will not receive any of the proceeds from the offering.
Piper Jaffray and Thomas Weisel Partners LLC are serving as joint book runners with Cowen and Company, BB&T Capital Markets, D.A. Davidson & Co and Wedbush Morgan Securities serving as co-managers for the offering.
Crocs Inc is a rapidly growing designer, manufacturer and marketer of footwear for men, women and children under the crocs brand.
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