06-19-02
RTO Online
Aaron Rents, the nations third largest Rent to Own, announced today that the
underwriters of the recent 2,000,000 share public offering will exercise the
overallotment option. The option allows Wachovia Securities, SunTrust Robinson
Humphrey and BB&T Capital Markets to purchase an additional 300,000 shares at
$19.90 per share (the public offering price of $21 minus the $1.10 underwriting
discount). Aaron stock is currently trading at $21.50 per share.
In a public offering, an overallotment occurs when more stock is sold than is
available in the offering. Most new offerings include an overallotment option
for the underwriters. end
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