Smith & Wesson Holding Corp. (NASDAQ: SWHC) has just filed with the SEC to raise up to $250 million in a mixed securities shelf registration. The company will be able to sell common stock, preferred stock, debt securities, warrants, depositary shares, purchase contracts and units in any combination thereof.
Some companies come out with securities sales immediately after thefiling and some do not. Smith & Wesson looks like it may fall in thelatter category as no underwriters were named in the filing. The firearms makerintends to use the net proceeds for general corporate purposes.
This stock has been hit rather hard in recent months considering howwell it was doing before. Shares closed down 0.4% at $4.57 today andits 52-week trading range is $3.72 to $22.00. Its current market capis $215 million. As of July 31, its total liabilities were $185million and its cash balance was a mere $1.365 million. Totalcurrent assets were $133.49 million.
Jon C. Ogg
September 23, 2008
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