CROCS Inc. (NASDAQ: CROX) may be closer to a capital raise if an amended filing from tonight clears the bar to allow it to sell securities. It was just May 22 when it filed to sell up to $75 million in a mixed securities shelf. If this is cleared, this will allow the company to sell debt, preferred stock, common stock, warrants or purchase contracts. Tonight came the opinion letter from Faegre & Benson LLP that should be at least one hurdle for the company to raise cash.
Shares closed down over 7% at $3.68 today, and its 52-week trading range is $0.79 to $10.55. For a comparison, its current market cap is about $308 million. We have yet to see any formal underwriters named, so this may not be an imminent financing.
You can see the signatures and conditions in the full amended filing.
JON C. OGG
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