Oct. 13, 2009 (Business Wire) -- Select Comfort Corporation (NASDAQ: SCSS), the nation’s leading bed retailer and creator of the SLEEP NUMBER® bed, today announced it filed a shelf registration statement with the Securities and Exchange Commission (SEC), which if and when it’s declared effective by the SEC, permits the company to issue up to $50 million worth of registered equity securities.
At such time the shelf registration statement is declared effective, the company will have the ability to issue common stock, preferred stock, warrants to purchase common stock, subscription rights, or any combination of such securities. The company can issue these securities at its discretion in one or more separate transactions with size, price and terms to be determined at the time of issuance.
The shelf registration statement will allow Select Comfort – subject to market conditions and the company’s capital needs – the flexibility to raise additional capital to strengthen the company’s financial position and increase its financial flexibility. The company previously indicated it was seeking to raise additional capital, but does not anticipate it will need to issue all $50 million of the registered equity securities in the near term.
A shelf registration statement on Form S-3 relating to these securities was filed with the SEC, but has not become effective. Therefore, these securities may not be sold, nor may offers to buy be accepted, prior to the SEC declaring the shelf registration statement effective. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of such 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. Any offer of these securities will be made solely by means of the prospectus included in the shelf registration statement and any prospectus supplement that may be issued.
About Select Comfort Corporation
Founded more than 20 years ago, Select Comfort was ranked the no. 1 bedding retailer in the United States for nine years running1. Based in Minneapolis, the company designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number® bed, as well as foundations and bedding accessories. SELECT COMFORT® products are sold through its approximately 400 company-owned stores located across the United States; select bedding retailers; direct marketing operations; and online at www.sleepnumber.com.
