SALT LAKE CITY, Feb. 16, 2012 (GLOBE NEWSWIRE) -- Black Diamond, Inc. (Nasdaq:BDE) (the "Company" or "Black Diamond") announced the pricing of a public offering of 7,750,000 shares of common stock, par value $0.0001 per share, all offered by Black Diamond in a primary offering, at $7.50 per share. The offering is expected to close on or about February 22, 2012.
Piper Jaffray & Co. is acting as sole book runner, and Wm Smith & Co. is acting as co-manager for the offering. Black Diamond has granted the underwriters a 30-day option to purchase up to an aggregate of 1,162,500 additional shares of common stock. Black Diamond anticipates using the net proceeds of the offering for general corporate purposes, including repayment of debt, capital expenditures and potential acquisitions.
The securities described above are being offered by Black Diamond pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on February 1, 2011. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to these securities may also be obtained, when available, from Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or email firstname.lastname@example.org, or by telephone at (800) 747-3924.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Please note that in this press release we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer spending on our products; general economic conditions and other factors affecting consumer confidence; disruption and volatility in the global capital and credit markets; the financial strength of the Company's customers; the Company's ability to implement its growth strategy; the Company's ability to successfully integrate and grow acquisitions; the Company's ability to maintain the strength and security of its information technology systems; stability of the Company's manufacturing facilities and foreign suppliers; the Company's ability to protect trademarks and other intellectual property rights; fluctuations in the price, availability and quality of raw materials and contracted products; foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; and legal, regulatory, political and economic risks in international markets. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.
CONTACT: Company Contact:
Warren B. Kanders
Chief Executive Officer
Liolios Group, Inc.
Scott Liolios or Cody Slach
Black Diamond, Inc.