ATLANTA, May 18, 2006 /PRNewswire-FirstCall/ -- Aaron Rents, Inc.
(NYSE: RNT) announced today the pricing of its public offering of 4,000,000
shares of non-voting Common Stock at $25.75 per share. Of the total shares to
be offered, 3,000,000 of the shares are being offered by the Company and
1,000,000 shares are being offered by the Company's Chairman and Chief
Executive Officer, R. Charles Loudermilk, Sr., as selling shareholder. Aaron
Rents and the selling shareholder have also granted to the underwriters an
option to purchase an additional 450,000 and 150,000 shares, respectively,
within 30 days after the offering to cover over allotments. The net proceeds
from the sale of the 3,000,000 shares sold by Aaron Rents will be used to
repay bank debt and for general corporate purposes. The offering is expected
to close on May 24, 2006.
SunTrust Robinson Humphrey is the sole book-running manager for the
offering, and Morgan Keegan & Company, Inc. is co-lead manager. Stifel
Nicolaus, Wachovia Securities and BB&T Capital Markets are co-managers. A copy
of the final prospectus relating to these securities may be obtained from
SunTrust Robinson Humphrey, 3333 Peachtree Road, NE, Atlanta, GA 30326.
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 shares of
common stock in any state in which such an offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities
law of any such state. The offering will be made only by means of a written
prospectus.
Aaron Rents, Inc., based in Atlanta, currently has more than 1,225
Company-operated and franchised stores in 46 states, Canada and Puerto Rico
for the rental and sale of consumer electronics, computers, residential and
office furniture, household appliances and accessories. The Company
manufactures furniture, bedding and accessories at 12 facilities in five
states.
SOURCE Aaron Rents, Inc.
CONTACT:
Gilbert L. Danielson,
Executive Vice President, Chief Financial
Officer of Aaron Rents, Inc.,
+1-678-402-3314
Web site: http://www.aaronrents.com