HHGregg seeks $53M in stock offering-WEB ONLY

Indianapolis-based HHGregg today said it would price a previously announced public stock offering at $16.50 per share in hopes of raising about $53 million.

The appliance and electronics retail chain announced the offering of 3.5 million shares of its common stock last week.

Credit Suisse Securities LLC and Barclays Capital Inc. are the joint underwriters for the offering. They have a 30-day option to buy an additional 450,000 shares from the company at a discount.

HHGregg shares traded at $17.06 at when the market closed yesterday, up 93 cents on the day.

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