MarineMax prices public offering of 2.6M shares

MarineMax prices public offering of 2.6 million shares at $7 per share

• On 11:06 am EDT, Friday September 11, 2009

CLEARWATER, Fla. (AP) -- Boatmaker MarineMax Inc. on Friday priced a public offering of 2.6 million shares at a below market price of $7 per share.

It expects total gross proceeds of $18.2 million.

That's an 11.3 percent discount from the closing price Thursday of $7.89. Shares fell 54 cents, or 6.8 percent, to $7.35 during Friday morning trading. The stock has traded between $1.19 and $9.66 during the past 52 weeks, and has more than doubled since the start of the year.

Raymond James & Associates, as the sole underwriter, has an option to buy up to an additional 390,000 shares of common stock from MarineMax at the public offering price, minus underwriting discounts and commissions, within 30 days.

Net proceeds of the offering will be used for general corporate purposes, which could include reducing debt.