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Rocky Plans Secondary Stock Offering

SEPTEMBER 15, 2005 -- Rocky Shoes & Boots has filed a registration statement with the SEC for a proposed public offering of 2,600,000 shares of common stock consisting of 2,000,000 shares offered by the company and 600,000 shares offered by certain selling shareholders. CEO Mike Brooks plans to sell 115,738 sahres, which will reduce his stake in the company to 3.91% from 7.51%. Investor SILLC Holdings is offering its entire stake of 484,261 shares, or 9.15% of the company's shares.

In addition, the underwriters have been granted a 30-day option to purchase up to 390,000 additional shares of common stock from the company to cover over-allotments, if any.

Rocky intends to use the net proceeds we receive in this offering to repay amounts under our term loan with GMAC Commercial Finance LLC ($16.5 million as of June 30), its term loan with American Capital Strategies, Ltd. ($30.0 million as of June 30), and the remainder to pay down its revolving credit facility and for working capital and other general corporate purposes, including the growth and expansion of our business.

The managing underwriters of the offering will be: Piper Jaffray & Co., as sole bookrunning manager, with co-managers Wachovia Securities, BB&T Capital Markets, D.A. Davidson & Co., and Ryan, Beck & Co.


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Quick links: One-click access to topics in this article.

Categories
Sporting goods industry
Stocks
Loans
Payments

Companies
Rocky Shoes & Boots Inc.
Investor SILLC Holdings
GMAC Commercial Finance LLC
American Capital Strategies Ltd.
Piper Jaffray & Co.

Concepts
term loan
Rocky Plans Secondary Stock Offering
public offering
selling shareholders
revolving credit facility

People
Mike Brooks





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