Footwear and apparel maker Rocky Shoes & Boots has been given financing commitments - subject to customary closing conditions from GMAC Commercial Finance LLC and American Capital Strategies Ltd - for credit facilities totalling $148 million.

The new credit facilities will be used to pay for the company's recently announced acquisition of EJ Footwear Group and will replace its current revolving credit facility.
The total purchase price of the acquisition will be $87.7m in cash plus 484,261 shares of Rocky common stock, which were valued at $10m at the date of the definitive agreement.

Rocky Shoes & Boots Inc designs, develops, manufactures and markets premium quality rugged outdoor, occupational, and casual footwear, as well as branded apparel and accessories.