Rocky Brands has announced the completion of a public offering of new shares, conducted between May 11 and May 14, that will generate net proceeds of $14.1 million for the company. The offering was based on a price of $8.40 a share. Rocky will use the money to repay some of its long-term debt. The company has not said yet whether it will make use of an option to offer 270,000 additional new shares at the same price to cover any overallotments. After announcing the initial results of the offering, it said that it had obtained approval to get an advance of $15 million from a revolving low-interest credit facility to pre-pay some term loans. This will leave Rocky under the obligation to pay principal of about $11 million under these terms loans, which carry an annual interest rate of 11.5 percent. With this transaction, Rocky will save around $1.1 million a year in interest payments. Rocky’s brands include Georgia Boot, Durango, Mossy Oak and Dickies.