ATLANTA, Jun 6, 2002 /PRNewswire-FirstCall via COMTEX/ -- Aaron Rents, Inc.
(NYSE: RNT) announced today the pricing of its public offering of 2,000,000
shares of Common Stock at $21.00 per share. Of the total shares to be offered,
1,500,000 of the shares will be offered by the Company and 500,000 shares will
be offered by the selling shareholder. The Company and the selling shareholder
have also granted to the underwriters an option to purchase an additional
225,000 and 75,000 shares, respectively. The Company will use the net proceeds
from the offering to reduce bank debt and for general corporate purposes.
The offering is being lead-managed by Wachovia Securities. SunTrust Robinson
Humphrey and BB&T Capital Markets are serving as co-managers. A copy of the
final prospectus with respect to this offering may be obtained from Wachovia
Securities, St. Paul Street, 1st Floor, Baltimore, MD 21202.
Aaron Rents, Inc., based in Atlanta, currently has more than 650 Company-
operated and franchised stores across the United States and Puerto Rico for the
rental and sale of residential and office furniture, accessories, consumer
electronics and household appliances. The Company also manufactures furniture,
bedding and accessories at 11 facilities in four states.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such state.
SOURCE Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson, Executive Vice President and Chief
Financial Officer of Aaron Rents, Inc., +1-404-231-0011
URL: http://www.aaronrents.com