Crocs, Inc. Prices Common Stock Offering
August 17 2006 - 9:30AM
Business Wire
Crocs, Inc. (NASDAQ: CROX) announced today the pricing of an
underwritten secondary public offering of 8,290,000 shares of its
common stock by certain of its stockholders at a public offering
price of $27.66. The underwriters have a 30-day option to purchase
up to an additional 1,243,500 shares of common stock from certain
stockholders to cover over-allotments, if any. All of the shares
will be sold by stockholders of Crocs, and, as a result, Crocs will
not receive any of the proceeds from the offering. Piper Jaffray
and Thomas Weisel Partners LLC are serving as joint book runners
with Cowen and Company, BB&T Capital Markets, D.A. Davidson
& Co. and Wedbush Morgan Securities serving as co-managers for
the offering. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sales of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state. Any offer or
sale will be made only by means of the written prospectus forming a
part of the effective registration statement. A copy of the final
prospectus related to this offering may be obtained by calling the
Prospectus Department at Piper Jaffray, 800 Nicollet Mall,
Minneapolis, MN 55402 toll-free at (877) 371-5212. About Crocs,
Inc. Crocs, Inc. is a rapidly growing designer, manufacturer and
marketer of footwear for men, women and children under the crocs
brand. All of our footwear products incorporate our proprietary
closed-cell resin material, which we believe represents a
substantial innovation in footwear comfort and functionality. Our
proprietary closed-cell resin, which we refer to as croslite(TM)
enables us to produce a soft and lightweight, non-marking, slip-
and odor-resistant shoe. These unique properties make crocs
footwear ideal for casual wear, as well as for recreational uses
such as boating, hiking, fishing and gardening, and have enabled us
to successfully market our products to a broad range of consumers.
Forward Looking Statements Certain information contained in this
press release may be deemed to constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements to be materially different
from any future results, performances or achievements expressed or
implied by the forward-looking statements. These risks and
uncertainties include, but are not limited to, our ability to
obtain and protect intellectual property rights and other factors
described in our annual report on Form 10-K under the heading "Risk
Factors," and our subsequent filings with the Securities and
Exchange Commission. Readers are encouraged to review that section
and all other disclosures appearing in our filings with the
Securities and Exchange Commission.
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