Citi Trends, Inc. Announces Pricing of Secondary Public Offering
June 13 2007 - 8:00AM
PR Newswire (US)
SAVANNAH, Ga., June 13 /PRNewswire-FirstCall/ -- Citi Trends, Inc.
(NASDAQ:CTRN) announced today the pricing on June 12, 2007 of an
underwritten secondary public offering of 2,135,000 shares of its
common stock by certain of its shareholders at a public offering
price of $37.92 per share. The underwriters have the option to
purchase up to an additional 320,250 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 is acting as sole book-running manager
and Cowen and Company, Piper Jaffray and Wachovia Securities are
acting as co-managers. The shares of common stock may only be
offered by means of a prospectus. Copies of the final prospectus
relating to this offering, when available, may be obtained from:
CIBC World Markets Corp. Attn: USE Prospectus Department 425
Lexington Ave, 5th Floor New York, New York 10017 Prospectus
number: 212-667-7200 or 866-895-5637 Or email to A shelf
registration statement relating to these securities has been filed
with and declared effective by the Securities and Exchange
Commission. This announcement shall not constitute an offer to sell
or the solicitation of an offer to buy any securities of Citi
Trends, Inc., nor shall there be any sale of securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Forward-Looking
Statements All statements other than historical facts contained in
this news release, including statements regarding the proposed
public offering of our common stock by certain selling
stockholders, are forward-looking statements that are subject to
material risks and uncertainties. The words "believe," "may,"
"could," "estimate," "continue," "anticipate," "intend," "expect"
and similar expressions, as they relate to Citi Trends, are
intended to identify forward- looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance or results and are inherently
subject to risks and uncertainties, some of which cannot be
predicted or quantified, and that actual results or developments
may differ materially from those in the forward-looking statements
as a result of various factors which are discussed in Citi Trends,
Inc. filings with the Securities and Exchange Commission. These
risks and uncertainties include, but are not limited to,
uncertainties relating to market conditions for our common stock
and changes in the financial markets in general and in our industry
specifically. Except as required by applicable law, including the
securities laws of the United States and the rules and regulations
of the Securities and Exchange Commission, Citi Trends does not
undertake to publicly update any forward-looking statements in this
news release or with respect to matters described herein, whether
as a result of any new information, future events or otherwise.
CTRN-E DATASOURCE: Citi Trends, Inc. CONTACT: Bruce D. Smith, 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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