Seidler-backed Sportman’s Warehouse rolls out IPO

Sportsman’s Warehouse Holdings, a portfolio company of Seidler Equity Partners, has launched its IPO of 12.5 million shares after pricing it at $9.50 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “SPWH.” Credit Suisse and Goldman Sachs are the lead underwriters. Based in Midvale, Utah, Sportman’s is an outdoor sporting goods retailer.

PRESS RELEASE

MIDVALE, Utah, April 16, 2014 (GLOBE NEWSWIRE) — Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s”) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $9.50 per share, which consists of 8,333,333 shares of common stock sold by Sportsman’s and 4,166,667 shares of common stock sold by affiliates of Seidler Equity Partners III, L.P. (collectively, “Seidler”). The shares are expected to begin trading on The NASDAQ Global Select Market under the symbol “SPWH” beginning on April 17, 2014. The offering is expected to close on or about April 23, 2014, subject to customary conditions.
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 1,406,250 shares from Seidler.
The net proceeds to Sportsman’s, after deducting underwriting discounts and commissions and our estimated offering costs, is expected to be approximately $70.3 million. Sportsman’s intends to use all of the net proceeds to it from this offering to repay amounts outstanding under its term loans.
Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers and the representatives of the underwriters. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Piper Jaffray & Co., Wells Fargo Securities and D.A. Davidson & Co. are acting as co-managers.
The offering is being made only by means of a prospectus forming part of a registration statement relating to the offering declared effective by the U.S. Securities and Exchange Commission on April 16, 2014. A copy of the final prospectus relating to the offering may be obtained by mail from the Credit Suisse Securities (USA) LLC Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037 or by emailing newyork.prospectus@credit-suisse.com, or from the offices of Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Sportsman’s
Sportsman’s Warehouse is a high-growth outdoor sporting goods retailer focused on meeting the everyday needs of the seasoned outdoor veteran, the first-time participant and every enthusiast in between. Our mission is to provide a one-stop shopping experience that equips our customers with the right hunting, shooting, fishing and camping gear to maximize their enjoyment of the outdoors.

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