Clarus Corporation, the company based in Salt Lake City that owns brands such as Black Diamond, Pieps, Sierra Bullets and Rhino-Rack, has priced a stock offering of 2,750,000 shares of common stock at $27 each. The expected gross proceeds of $74,250,000 would be used for general corporate purposes, including repayment of debt, capital expenditures and potential acquisitions. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 412,500 shares of common stock. The group currently has about $190 million in debt on its balance sheet, much of which came from its recent acquisition of Rhino-Rack for $198 million. Earlier this month, Clarus raised its guidance for the full year in the wake of expected strong third-quarter figures, leading the stock price to rise above $30. Its announcement of the impending dilution sent it down to just over $28, and it is now trading below the $27 price of the offering. BofA Securities is acting as lead book-running manager and representative of the underwriters for the offering. Stifel, Raymond James and Roth Capital Partners are also acting as book-running managers.

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