Smith & Wesson Holding Increases Tender Offer Price - Quick Facts

(RTTNews) - Smith & Wesson Holding Corp. (SWHC) announced that it has increased the purchase price to be paid in its previously announced fixed-price cash tender offer from $10.00 per share to $11.00 per share for an aggregate purchase price of up to $75.0 million.

The company said that as a result of the increase to the purchase price, it has decreased the maximum number of shares it is offering to purchase in the Offer.

The company announced on June 13, 2013 that its Board of Directors had approved the repurchase of up to $100.0 million of the company's outstanding common stock, including the repurchase for cash of up to $75.0 million of common stock by way of a fixed-price issuer tender offer, with the remaining authorized balance to be repurchased in open market or privately negotiated transactions.

The company noted that the increased purchase price of $11.00 per share represents an increase of 10% over the original $10.00 per share purchase price and a premium of about 18.3% to the closing price of $9.30 on June 13, 2013, the last full trading day before the company announced its intention to commence the Offer.