Dover Saddlery, a specialty retailer of equestrian products in the US, announced Tuesday that it will offer 2.5 million shares at a range of $12-$16. Insiders plan to sell 1.3 million shares on the offering. Assuming the stock prices at the midpoint, the company will have an initial market capitalization of $69 million. WR Hambrecht will underwrite the deal using a Dutch auction format. Timing has yet to be determined.
