The Aaron's Company, Inc. Completes Spin-off; Begins Trading as Independent, Publicly Traded Company

Furniture World News Desk on 12/1/2020

The Aaron's Company, Inc., an leading omni-channel provider of lease-purchase solutions, recently announced that it has completed its spin-off from its former parent, and will operate as an independent, publicly-traded company, listed on the New York Stock Exchange under the ticker symbol "AAN."

Aaron's remains a mission-driven company focused on enhancing people's lives by providing convenient access to high-quality furniture, appliances and electronics through affordable lease and purchase options.  Aaron's operates approximately 1,400 company-owned and franchised stores in 47 U.S. states and Canada, as well as its industry leading e-commerce platform, Aarons.com.

"Today marks the beginning of an exciting new chapter in Aaron's 65-year history," said Douglas Lindsay, Chief Executive Officer of The Aaron's Company. "With low monthly payments, high lease approval rates, and exceptional customer service, we believe our value proposition is best in the lease-to-own industry. Aaron's serves a large and expanding market with a unique set of physical and digital assets, and we expect that our well-defined market strategy will drive significant long-term value for our customers, team members and shareholders."

As previously announced, under the terms of the spin-off and distribution transaction, shareholders of record as of the close of business on the record date, November 27, 2020, received one share of common stock of The Aaron's Company for every two shares of Parent common stock held on the record date. Shareholders received cash in lieu of any fractional shares.

About The Aaron's Company: Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN), is a leading omnichannel provider of lease-purchase solutions. Aaron's engages in direct-to-consumer sales and lease ownership of furniture, home appliances, consumer electronics and accessories through its approximately 1,400 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. For more information, visit Aarons.com.