Conn's Closes Offering of 5.5M Shares for Proceeds of ~$56.2M

Conn's .

, a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit (“Conn's” or the “Company”), today announced the closing of its previously announced underwritten registered public offering of 5,500,000 shares of common stock. The Company also announced the exercise in full of the over-allotment option granted to the underwriters by Conn's with respect to the purchase of an additional 825,000 shares of common stock at a public offering price of $26.75 per share. Of the total 6,325,000 shares of common stock sold, the Company sold 2,233,379 shares and the selling stockholders sold 4,091,621 shares. As a result of the exercise of the over-allotment option, the Company received net proceeds from the offering of approximately $56.2 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to use the net proceeds from the offering primarily for the repayment of debt under the Company's asset-based loan facility and to pay the fees and expenses that it incurred in connection with the offering. The Company did not receive any proceeds from the sale of shares of common stock offered by the selling stockholders in the offering.