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

Conn's . (NASDAQ: CONN), 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 previouslyannounced underwritten registered public offering of 5,500,000 shares ofcommon stock. The Company also announced the exercise in full of theover-allotment option granted to the underwriters by Conn's with respect tothe purchase of an additional 825,000 shares of common stock at a publicoffering price of $26.75 per share. Of the total 6,325,000 shares of commonstock sold, the Company sold 2,233,379 shares and the selling stockholderssold 4,091,621shares. As a result of the exercise of the over-allotmentoption, the Company received net proceeds from the offering of approximately$56.2 million, after deducting underwriting discounts and commissions andother estimated offering expenses.

The Company intends to use the net proceeds from the offering primarily forthe repayment of debt under the Company's asset-based loan facility and to paythe fees and expenses that it incurred in connection with the offering. TheCompany did not receive any proceeds from the sale of shares of common stockoffered by the selling stockholders in the offering.