Citi Trends, Inc. Announces Pricing of Follow-On Public Offering
January 26 2006 - 8:00AM
PR Newswire (US)
SAVANNAH, Ga., Jan. 26 /PRNewswire-FirstCall/ -- Citi Trends, Inc.
(NASDAQ:CTRN) announced today the pricing on January 25, 2006 of an
underwritten secondary public offering of 1,675,000 shares of its
common stock by certain of its shareholders at a public offering
price of $42.25 per share. The underwriters have the option to
purchase up to an additional 251,250 shares of common stock from
certain shareholders to cover over-allotments, if any. All of the
shares will be sold by shareholders of Citi Trends, Inc. and, as a
result, Citi Trends will not receive any of the proceeds from the
offering. CIBC World Markets will serve as sole book-running
manager and Piper Jaffray, SG Cowen & Co. and Wachovia
Securities will serve as co-managers. Copies of the final
prospectus relating to this offering, when available, may be
obtained from CIBC World Markets Corp., 300 Madison Avenue, New
York, New York 10017, by fax at (212) 667-6303 or by e-mail at . A
registration statement relating to this offering was declared
effective by the Securities and Exchange Commission. The offering
is being made solely by means of a prospectus. 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 these securities in
any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state. Citi Trends, Inc. is a
value-priced retailer of urban fashion apparel and accessories for
the entire family. The Company currently operates 236 stores
(including two stores currently closed due to the hurricanes)
located in 14 states in the South, Southeast, Midwest and
Mid-Atlantic regions. CTRN-E First Call Analyst: FCMN Contact:
DATASOURCE: Citi Trends, Inc. CONTACT: Tom Stoltz, Chief Financial
Officer, +1-912-443-2075; or Ed Anderson, Chief Executive Officer,
+1-912-443-3705; both of Citi Trends, Inc.
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