Clarus Corporation announces the price of its offering of common shares
SALT LAKE CITY, Oct. 26, 2021 (GLOBE NEWSWIRE) – Clarus Corporation (NASDAQ: CLAR) (“Clarus” and / or the “Company”), today announced that it has priced a public offering of purchase of 2,750,000 shares of its common stock for total expected gross proceeds of $ 74,250,000, before estimated subscription costs and offering costs. The Company has also granted the underwriters a 30 day option to purchase up to 412,500 additional common shares. The offer is subject to customary closing conditions and is expected to close on October 29, 2021.
The Company intends to use the net proceeds of the offering for general corporate purposes, including debt repayment, capital expenditures and potential acquisitions.
BofA Securities is acting as lead manager and representative of the Underwriters for the Offer. Stifel, Raymond James and Roth Capital Partners also act as bookkeepers.
This offering of common stock is made in accordance with an effective pending registration statement on Form S-3 (registration number 333-254105) filed with the Securities and Exchange Commission (“SEC”). The offering is being made only by way of a prospectus supplement and accompanying prospectus which have been filed with the SEC. Before investing, you should read the prospectus supplement and accompanying prospectus, as well as other documents that the Company has filed or will file with the SEC for more complete information about the Company and the offering. . You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Company, any underwriter or any broker participating in the offer will arrange to send you the prospectus supplement relating to the offer if you request it by contacting BofA Securities, Attention: Prospectus Department, NC1-004-03 -43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001 or by emailing [email protected]
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities and does not constitute an offer, solicitation or sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal.
About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a leading global designer, developer, manufacturer and distributor of premium outdoor gear and lifestyle products, focused on hobbyist markets. outdoor and consumer. With a solid reputation for innovation, style, quality, design, safety and durability, Clarus’ portfolio of iconic brands includes Black Diamond®, Rhino-Rack®, Sierra®, Barnes®, PIEPS®, and SKINalimentation® sold through specialty and online retailers, distributors and original equipment manufacturers in the United States and internationally. For more information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.rhinorack.com, www.sierrabullets.com, www.barnesbullets.com, www.pieps .com or www.goclimbon .com.
Please note that in this press release we may use words such as “appears”, “anticipates”, “believes”, “plans”, “expects”, “intends”, “in the future”. ”And similar expressions that constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our expectations and beliefs regarding future events affecting the Company and involve therefore a certain number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in forward-looking statements. The potential risks and uncertainties that could cause the actual results of operations or the financial condition of the Company to differ materially from those expressed or implied by the forward-looking statements contained in this press release include, without limitation, our ability to complete the offering of common shares on the terms offered, or not at all; our expectations related to the use of the proceeds of the common stock offering; the overall level of consumer demand for our products; general economic conditions and other factors affecting consumer confidence, preferences and behavior; the disruption and volatility of global currency, capital and credit markets; the financial strength of the Company’s customers; the Company’s ability to implement its business strategy; the Company’s ability to complete and integrate acquisitions; changes in government regulations, laws or public opinion regarding the manufacture and sale of bullets and ammunition, and the possession and use of firearms and ammunition by our customers; the Company’s exposure to product liability or product warranty claims and other contingencies of loss; disruptions and other impacts on the Company’s activities, due to the global COVID-19 pandemic and government actions and restrictive measures implemented in response; the stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease outbreaks and health issues such as the global COVID-19 pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company’s ability to protect patents, trademarks and other intellectual property rights; any breach or interruption of our information systems; the ability of our information technology systems or information security systems to function effectively, including in the wake of security breaches, viruses, hackers, malware, disasters natural, supplier interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology or information security systems, or problems with our transition to upgraded or replacement systems; the impact of negative publicity regarding the Company and / or its brands, including, without limitation, via social media or in connection with events detrimental to the brand and / or public perception; fluctuations in the price, availability and quality of raw materials and products under contract as well as fluctuations in foreign currencies; continued interruptions and delays in the shipping and transportation of our products due to port congestion, container ship availability and / or other logistical issues; our ability to use our net operating loss carryforwards; changes in tax laws and responsibilities, tariffs, legal, regulatory, political and economic risks; the Company’s ability to maintain a quarterly dividend; and any material difference in the actual financial results of the Rhino-Rack acquisition from expectations, including the impact of the acquisition on the Company’s future earnings per share. More information about potential factors that could affect the Company’s financial results is included from time to time in the Company’s public reports filed with the Securities and Exchange Commission, including the Company’s annual report on the form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. All forward-looking statements included in this press release are based on information available to the Company at the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
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