Outdoor financials: Rocky Brands prices public offering

To pay down long-term debt, Rocky Brands has priced a public offering of 1.8 million shares of stock at $8.40 per share.
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Rocky Brands prices public offering

Rocky Brands said it priced an underwritten public offering of 1.8 million shares of stock at $8.40 per share.

The company expects net proceeds of $14.1 million. It plans to use the money to pay down long-term debt.

The price is an 8-percent discount to the last closing share price of $9.15.

Underwriters have a chance to buy up to an additional 270,000 additional shares of common stock. The offering is expected to close on May 14.

--Compiled by Wendy Geister

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