Clarus Corporation (NASDAQ: CLAR), a leading designer, developer, manufacturer and distributor of best-in-class outdoor equipment and lifestyle products, announced that it has completed a previously announced underwritten public offering. The offering, which resulted in $85 million in gross proceeds for the company, was comprised of 3,162,500 shares of CLAR common stock, including 412,500 shares pursuant to the full exercise of the over-allotment option granted to the underwriters. According to the company, the shares were sold at $27 per share. The company plans to use the net proceeds for repayment of debt, capital expenditures and potential acquisitions as well as other general corporate costs. Roth Capital Partners acted as joint book-running manager for the offering.
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About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leading designer, developer, manufacturer and distributor of best-in-class outdoor equipment and lifestyle products focused on the outdoor and consumer enthusiast markets. With a strong reputation for innovation, style, quality, design, safety and durability, Clarus has built a portfolio of iconic brands includes Black Diamond(R), Rhino-Rack(R), Sierra(R), Barnes(R), PIEPS(R) and SKINourishment(R) sold through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally. For more information about the company, please visit www.ClarusCorp.com.
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