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Smith & Wesson Holding Corp Announces $100.0 Million Stock Repurchase Authorization


Thursday, 13 Jun 2013 04:20pm EDT 

Smith & Wesson Holding Corp announced that its Board of Directors has 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 amount and timing of any open market repurchases or privately negotiated transactions will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors. Any shares of common stock repurchased under the authorization will be held as treasury stock but not outstanding shares of the company's common stock. In December 2012, the company announced that its Board of Directors approved a program to repurchase up to $35.0 million of the company's outstanding shares of common stock and the company subsequently repurchased 2.1 million shares for $20.0 million, utilizing cash on hand. The $100.0 million repurchase program announced today replaces the remaining $15.0 million authorized in December 2012.