hhgregg negotiates private placement, public offering of common stock

By Devika Patel

Knoxville, Tenn., July 16 - hhgregg, Inc. has arranged a private placement of equity, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company also said it plans a public offering of 3 million common shares. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are the joint bookrunning managers for this offering.

Under the private placement agreement, the company will sell 1 million common shares to FS Equity Partners V, LP and FS Affiliates V, LP. The funds will purchase the shares at the same price as the shares being sold in the public offering.

hhgregg is an Indianapolis-based specialty retailer of consumer electronics and home appliances, and provider of related services. Its shares (NYSE: HGG) closed at $16.89 on July 15, and the company has a market capitalization of $518 million.

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