ATLANTA, April 26 /PRNewswire-FirstCall/ -- Aaron Rents, Inc. (NYSE: RNT)
announced today that it intends to file a registration statement for a
proposed underwritten offering of 4,000,000 shares of its common stock
(excluding shares subject to the underwriters' over-allotment option) in the
next several weeks. Of the shares being offered, it is anticipated that
3,000,000 shares will be offered by Aaron Rents and 1,000,000 shares will be
offered by Mr. R. Charles Loudermilk, Sr., the Company's Chairman, Chief
Executive Officer and founder, as a selling shareholder. Mr. Loudermilk, Sr.
currently owns approximately 2.6 million shares of Common Stock and 5.3
million shares of Class A Common Stock. It is anticipated that the net
proceeds to Aaron Rents from the proposed offering will be used for the
repayment of outstanding borrowings under its credit facility and for general
corporate purposes, including working capital needs.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities of Aaron Rents. The offering
will be made only by means of a prospectus to be filed by Aaron Rents with the
Securities and Exchange Commission.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this news release regarding Aaron Rents, Inc.'s
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties which could cause actual results to differ
materially from those contained in the forward-looking statements. These
risks and uncertainties include factors such as changes in general economic
conditions, competition, pricing, customer demand and other issues, and the
risks and uncertainties discussed under "Risk Factors" in the Company's Annual
Report on Form 10-K for fiscal 2005, which discussion is incorporated herein
by this reference. Statements in this release that are "forward-looking"
include statements regarding Aaron Rents' proposed public offering.
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/
(RNT)