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Military

Smith & Wesson Gunning To Raise Cash (SWHC)

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By Douglas A. McIntyre Updated Published
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Gun_imageSmith & 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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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