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Ultimate Electronics Announces Public Stock Offering

Denver – Ultimate Electronics has filed a registration statement with the Securities and Exchange Commission for the offer and sale of 2.75 million shares of its common stock.

Ultimate said in the filing, it plans to use the proceeds to repay outstanding debt, open new stores and complete a new management information system.

Underwriters have the option to purchase up to an additional 412,000 shares to cover over-allotments. If the underwriters exercise their over-allotment option, the selling stockholder may sell up to 200,000 shares to the underwriters, and Ultimate will sell the remainder of the shares to cover the over-allotment.