Clarus slides ahead of planned equity raise

Clarus

26/10/2021 17:01

** Clarus Corp  CLAR.O  shares down 9.0% at $28.20, on
course for biggest one-day pct fall since May 2020, as outdoor
equipment maker looks to raise equity
    ** CLAR after the bell Mon launched 2.75 mln share offering
for general corp purposes, including debt repayment, capex and
potential acquisitions  urn:newsml:reuters.com:*:nGNX7hKgRs
    ** BofA lead book-running manager, joined by Stifel, Raymond
James and Roth Capital for offering slated to price Tues after
market close
    ** CLAR has ~33.8 mln shares outstanding and ~21.48 of free
float, per Refinitiv data
    ** On Oct 18, CLAR said expects Q3 sales of $107-$108 mln,
66%-67% yr/yr increase, topping consensus view of $99.6 mln, per
Refinitiv data. Co also anticipates FY 2021 sales to grow ~62%
to $362.5 mln vs prior forecast of $350 mln  urn:newsml:reuters.com:*:nGNXXPKSQ
    ** Even with decline on the session, CLAR shares up ~83%
YTD. Stock on Mon notched record high close of $30.98

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))