Wednesday, July 25, 2007

hhgregg, Inc. Announces Successful Completion of Initial Public Offering and Completion of Debt Refinancing

INDIANAPOLIS, Jul 25, 2007 (BUSINESS WIRE) --

hhgregg, Inc. (NYSE:HGG) ("hhgregg") today announced the closing of its initial public offering of 9,375,000 shares of common stock, the completion by its subsidiary Gregg Appliances, Inc. ("Gregg Appliances") of a tender offer and consent solicitation for its outstanding 9% Senior Notes due 2013 (the "9% Senior Notes") and the completion of its debt refinancing. hhgregg will use the net proceeds from the initial public offering together with cash on hand to fund a portion of the tender offer and redeem Gregg Appliances' junior notes. The shares are listed on the New York Stock Exchange and trade under the symbol "HGG".

As of midnight, New York City time on July 24, 2007, $107,847,000 aggregate principal amount of the 9% Senior Notes, representing approximately 96.98% of the total principal amount outstanding, had been validly tendered and accepted for purchase in the tender offer. In addition, after the receipt of the requisite consents, Gregg Appliances, HHG Distributing, LLC and Wells Fargo Bank, National Association, the trustee under the indenture governing the 9% Senior Notes, entered into a supplemental indenture amending the 9% Senior Notes. The amendments to the indenture will become operative upon Gregg Appliances' payment for the accepted 9% Senior Notes.

hhgregg also announced today that Gregg Appliances has obtained a $100 million Term Loan facility agented by Wachovia Bank, National Association to fund the remaining portion of the purchase of the 9% Senior Notes. In addition, Gregg Appliances has increased its revolving credit facility, agented by Wachovia Capital Finance Corporation (Central), to $100 million. Gregg Appliances has paid for the accepted 9% Senior Notes.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these 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.

About hhgregg
hhgregg is a leading specialty retailer of premium video products, appliances, audio products and accessories. hhgregg currently operates 79 stores in Alabama, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Safe Harbor Statement
The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.

hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg's expectations are: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on our key management personnel and its ability to attract and retain qualified sale's personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; the effect of general and regional economic and employment conditions on its net sales; fluctuation in seasonal demand; its ability to maintain its rate of growth and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at our central distribution centers; changes in cost for print, radio and television advertising; and changes in trade regulations, currency fluctuations and prevailing interest rates.
Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the "Risk Factors" section and elsewhere in hhgregg's Registration Statement of Form S - 1. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

SOURCE: hhgregg, Inc.

View more press releases at ir.hhgregg.com

Friday, July 20, 2007

Gregg Appliances Amends Tender Offer and Consent Solicitation for Its 9% Senior Notes due 2013

INDIANAPOLIS, Jul 20, 2007 (BUSINESS WIRE) -- hhgregg, Inc. ("hhgregg") today announced that, in connection with the previously announced tender offer of Gregg Appliances, Inc. ("Gregg Appliances"), its wholly owned subsidiary (the "Tender Offer"), and consent solicitation (the "Consent Solicitation") for all of Gregg Appliances' $111,205,000 aggregate amount of 9% Senior Notes due 2013 (the "9% Senior Notes"), Gregg Appliances has amended the IPO Condition (as defined in the Statement described below) to Gregg Appliances' obligation to accept, and pay for, the 9% Senior Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer.

As described in the Offer to Purchase and Consent Solicitation Statement dated June 26, 2007 (the "Statement"), Gregg Appliances' obligation to accept, and pay for, the 9% Senior Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer is conditioned, among other conditions, on the consummation of the initial public offering of hhgregg, resulting in gross proceeds to hhgregg of at least $50,000,000 (the "IPO Condition"). Gregg Appliances' may, in its sole discretion waive or amend any of the conditions to the Tender Offer or Consent Solicitation. Gregg Appliances' has amended the IPO Condition to provide that the consummation of the IPO, resulting in gross proceeds to hhgregg of at least $48,750,000, is a condition to Gregg Appliances' obligation to accept the 9% Senior Notes for purchase and pay the Tender Offer Consideration and Consent Payment, as applicable (each as defined in the Statement).

The Tender Offer is scheduled to expire at midnight, New York City time, on July 24, 2007, unless terminated or extended.

All other terms and conditions of the Tender Offer and the Consent Solicitation, will remain as described in the Statement.

This announcement amends and supplements the Statement solely as described in this press release. The terms of the Tender Offer and the Consent Solicitation are more fully described in the Statement and related Letter of Transmittal and Consent.

Gregg Appliances expressly reserves the right, in its sole discretion, subject to applicable law to: (a) terminate prior to the expiration date any Tender Offer and Consent Solicitation and not accept for payment any 9% Senior Notes not theretofore accepted for payment; (b) waive on or prior to the expiration date any and all of the conditions of the Tender Offer and the Consent Solicitation; (c) extend the expiration date; and (d) amend the terms of the tender offer or consent solicitation. The foregoing rights are in addition to its right to delay acceptance for payment of the 9% Senior Notes tendered under the tender offer or the payment for the 9% Senior Notes accepted for payment in order to comply in whole or in part with any applicable law, subject to Rule 14e-l(c) under the Securities Exchange Act of 1934, as amended, to the extent applicable, which requires that an offeror pay the consideration offered or return the securities deposited by or on behalf of the holders thereof promptly after the termination or withdrawal of the tender offer.

Wachovia Securities is acting as exclusive dealer manager and solicitation agent for the Tender Offer and the Consent Solicitation. The information agent and tender agent for the tender offer is Global Bondholder Services Corporation. Questions regarding the Tender Offer and Consent Solicitation may be directed to Wachovia Securities' Liability Management Group, telephone number 866-309-6316 (toll free) and 704-715-8341 (call collect). Requests for copies of the Offer to Purchase and Consent Solicitation Statement and related documents may be directed to Global Bondholder Services Corporation, telephone number (866) 470-4500 (toll free) and (212) 430-3774 (call collect).

This announcement is not an offer to purchase, a solicitation of an offer to sell, or a solicitation of consents with respect to the 9% Senior Notes nor is this announcement an offer to sell or solicitation of an offer to purchase new securities. The Tender Offer and Consent Solicitation are made solely by means of the Offer to Purchase and Consent Solicitation Statement and the related Consent and Letter of Transmittal.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these 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.
About hhgregg

hhgregg (NYSE:HGG) is a leading specialty retailer of premium video products, brand name appliances, audio products and accessories. hhgregg currently operates 79 stores in Alabama, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.
Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.

hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg's expectations are: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on our key management personnel and its ability to attract and retain qualified sale's personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; the effect of general and regional economic and employment conditions on its net sales; fluctuation in seasonal demand; its ability to maintain its rate of growth and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at our central distribution centers; changes in cost for print, radio and television advertising; and changes in trade regulations, currency fluctuations and prevailing interest rates.
Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the "Risk Factors" section and elsewhere in hhgregg's Registration Statement of Form S - 1. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

SOURCE: hhgregg, Inc.

View more press releases at ir.hhgregg.com

hhgregg Inc. Announces Pricing of IPO

INDIANAPOLIS--(BUSINESS WIRE)--hhgregg, Inc. ("hhgregg") today announced the pricing of its initial public offering of 9,375,000 shares of common stock, at a price of $13.00 per share. The shares will be listed on the New York Stock Exchange and will trade under the symbol "HGG" beginning July 20, 2007. Of the 9,375,000 shares of common stock, 3,750,000 shares will be sold by hhgregg and 5,625,000 will be sold by certain stockholders. The underwriters have a 30-day option to purchase up to an additional 1,406,250 shares pro rata from the selling stockholders at the initial public offering price less the underwriting discount, to cover over-allotments. hhgregg expects to receive net proceeds of approximately $45.3 million from the offering and intends to use the net proceeds to pay down existing debt. hhgregg will not receive any proceeds from the sale of shares by the selling stockholders.

Credit Suisse Securities (USA) LLC and Lehman Brothers Inc. are the Joint Bookrunning Managers for the offering. A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering will be made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering, when available, may be obtained by contacting:

Credit Suisse Securities (USA) LLC Attention: Prospectus Department One Madison Avenue New York, New York 10010 Telephone: 1-800 221 1037

Lehman Brothers Inc. Attention: Prospectus Department c/o Broadridge Integrated Distribution Services 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 1-888-603-5847

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these 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.

About hhgregg

hhgregg (NYSE: HGG - News) is a leading specialty retailer of premium video products, brand name appliances, audio products and accessories. hhgregg currently operates 79 stores in Alabama, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.

hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg's expectations are: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on our key management personnel and its ability to attract and retain qualified sale's personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; the effect of general and regional economic and employment conditions on its net sales; fluctuation in seasonal demand; its ability to maintain its rate of growth and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at our central distribution centers; changes in cost for print, radio and television advertising; and changes in trade regulations, currency fluctuations and prevailing interest rates.

Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the "Risk Factors" section and elsewhere in hhgregg's Registration Statement of Form S - 1. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

View more press releases at ir.hhgregg.com