Energizer Holdings Inc said on Monday it will sell 9.5 million shares of common stock offering to pay its newly acquired S.C Johnsons and Son Inc’s Edge and Skintimate shave business, and to pay its current debt.

It will buy Missouri-based Shaving creams and gels for about $275 million in net proceeds according to its financial advisor and stock offering joint book-running managers J.P. Morgan, Merrill Lynch & Co and Deutsche Bank.

Recently, it posted second quarter net earnings ended March 31, 2009 of $77.0 million or $1.30 per share from net earnings of $60.9 million or $1.03 per share in the second fiscal quarter of 2008. Sales fell 7 percent to $880 million from $951 million.

It also offers an option for the underwriter to buy up to 1.425 million common shares to cover any overallotments.

Shares of Energizer fell $3.02 to 5.35% at $53.46 in the early trading.