Clarus Corporation (NASDAQ: BDE) (“Clarus” or the “Company”), a leading developer, manufacturer and distributor of branded outdoor recreation equipment and active lifestyle products, filed a Form S-3 registration statement today with the Securities and Exchange Commission, commonly known as a “shelf registration statement”.
Under the shelf registration statement, Clarus may offer, issue and sell, from time to time, in one or more offerings and series, together or separately, shares of its common stock, shares of its preferred stock, debt securities or guarantees of debt securities up to an aggregate amount of $250,000,000. Additionally, the shelf registration statement includes the registration of up to 4,159,686 shares of Clarus common stock for resale by certain selling stockholders of Clarus (the “Selling Stockholders”) of which 3,675,919 shares are subject to a lock-up agreement expiring May 28, 2012.
The proceeds of any offering by the Company are anticipated to be used in the strategic development and growth of the Company's business, both organically and through acquisition. The Company will not receive any proceeds from any sale of the shares owned by the Selling Stockholders.
The shelf registration statement has been filed with the Securities and Exchange Commission but is not yet effective. The securities to be registered under the shelf registration statement may not be sold, nor may offers to buy be accepted prior to the time the shelf registration statement becomes effective. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer to sell, or solicitation of an offer to buy securities, if and when such offer is made, will be pursuant to a prospectus or a prospectus supplement that will be issued with respect to any such offering. A copy of any prospectus or prospectus supplement relating to any offering under the shelf registration statement will be filed with the Securities and Exchange Commission and can be obtained, when available, by contacting Clarus Corporation, attention: Mr. Robert Peay, Chief Financial Officer, 2084 East 3900 South, Salt Lake City, UT 84124.