NEW YORK (TheStreet) -- Shares of Sportsman's Warehouse (SPWH) - Get Report were falling 3.9% to $12.05 on heavy trading volume after the sport goods retailer prices the 6.25 million shares of common stock sold by selling shareholders in a secondary public offering.
Sportsman's Warehouse priced the 6.25 million shares sold by selling shareholders at $12.25 a share. The selling shareholders granted the underwriters a 30-day option to buy up to 937,500 shares of common stock at the same price.
The company will not receive any proceeds from the offering as it is not selling any shares.
The offering is expected to close on September 30.
About 3.2 million shares of Sportsman's Warehouse were traded by 11:58 a.m. Friday, well above the company's average trading volume of about 241,000 shares a day.