Smith & Wesson prices stock offering

Smith & Wesson Holding Corp. of Springfield said today it priced a public offering of 6.25 million common shares.

The firearms maker said it will use the approximately $31.9 million in proceeds to repay debt.

The underwriters are Deutsche Bank Securities and Cowen and Company.

The offering is expected to close on Friday. A shelf offering filed with the Securities and Exchange Commission was declared effective on Sept. 15, 2006.

Shares of Smith & Wesson fell 49 cents, or 7.9 percent, to $5.68 in premarket electronic trading. The stock closed at $6.17 yesterday on the Nasdaq Stock Market . (AP)