Spin-Off Outlays Long-term Value: In July, management revealed plans to spin-off into two independent, publicly-traded companies. Statements in this press release that are "forward-looking" include, without limitation, statements about (i) our value proposition in the lease-to-own industry; (ii) the benefits expected from our market strategy; and (iii) our ability to create long-term value for our customers, team members and shareholders. Part of Aaron’s plans for the separation is to make it a tax-free spinoff and is expected to be completed by the end of this year. For more information, visit Aarons.com or investor.aarons.com. By PR Newswire. InvestorRelations@aarons.com. You must click the activation link in order to complete your subscription. PRESS RELEASES. About The Aaron's CompanyHeadquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN), is a leading omnichannel provider of lease-purchase solutions. View original content to download multimedia:http://www.prnewswire.com/news-releases/the-aarons-company-inc-completes-spin-off-begins-trading-as-independent-publicly-traded-company-301181953.html, Michael P. Dickerson The separation is planned as a tax-free spin-off of Aaron's to the Company's shareholders and is expected to be completed by the end of the year. 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.". Get the latest The Aarons Company, Inc. AAN detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. The Aaron's Company, Inc. AAN 3.97% completed a spin-off from its former parent company this week and is now trading as an independent company. Spinoffs that have not been officially confirmed are not included. Shareholders received cash in lieu of any fractional shares. AAN | Complete Aaron's Co. Inc. stock news by MarketWatch. ATLANTA, Dec. 1, 2020 /PRNewswire/ -- The Aaron's … The Aaron’s Company, Inc. ( “Aaron’s”), a leading omni-channel provider of lease-purchase solutions, announced that it has completed its spin-off from its former parent (“Parent”), and will operate as an independent, publicly-traded company, listed on the New York Stock Exchange under the ticker symbol “AAN.”. These risks and uncertainties include factors such as (i) the impact of the COVID-19 pandemic and related measures taken by governmental or regulatory authorities to combat the pandemic, and whether additional government stimulus payments or supplemental unemployment benefits will be approved, and the nature, amount and timing of any such payments or benefits, including the impact of the pandemic and such measures on: (a) demand for the lease-to-own products we offer, (b) our customers, including their ability and willingness to satisfy their obligations under their lease agreements, (c) our suppliers' ability to provide us with the merchandise we need to obtain from them, (d) our employees and labor needs, including our ability to adequately staff our operations, (e) our financial and operational performance, and (f) our liquidity; (ii) failure of our separation from Parent to qualify for the expected tax treatment; (iii) the possibility that the operational, strategic and shareholder value creation opportunities from our separation from Parent may not be achieved; (iv) changes in the enforcement of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our businesses; (v) legal and regulatory proceedings and investigations, including those related to customer privacy, third party and employee fraud and information security; (vi) the risks associated with our business transformation strategy not being successful, including our e-commerce and real estate repositioning and optimization initiatives (including the risk that the costs associated with these initiatives exceeds our expectations); (vii) risks associated with the challenges faced by our business, including the commoditization of consumer electronics and our high fixed-cost operating model; (viii) increased competition from traditional and virtual lease-to-own competitors, as well as from traditional and on-line retailers and other competitors; (ix) financial challenges faced by our franchisees, which we believe may be exacerbated by the COVID-19 pandemic and related governmental or regulatory measures to combat the pandemic; (x) increases in lease merchandise write-offs, especially in light of the COVID-19 pandemic; and the other risks and uncertainties discussed under "Risk Factors" in The Aaron's Company, Inc.'s Registration Statement on Form 10, as amended, initially filed with the U.S. Securities and Exchange Commission on November 2, 2020. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Real time Aarons (AAN) stock price quote, stock graph, news & analysis. The Aaron's Company, Inc. Completes Spin-off; Begins Trading as Independent, Publicly Traded Company, http://www.prnewswire.com/news-releases/the-aarons-company-inc-completes-spin-off-begins-trading-as-independent-publicly-traded-company-301181953.html. But it's worth looking at the long term as the company's stock has performed … 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. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as "believe," "expect," and similar forward-looking terms. (b) Spin-Off Ratio: The spin-off ratio is 1:2, implying each AAN shareholder will receive one share of The Aaron’s Company common stock for every two shares of AAN’s common stock. ATLANTA, Dec. 1, 2020 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) ( "Aaron's"), a leading omni-channel provider of lease-purchase solutions, today announced that it has completed its spin-off from its former parent ("Parent"), and will operate as an independent, publicly-traded company, listed on the New York Stock Exchange under the ticker symbol "AAN." 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. Michael P. Dickerson – Vice President Corporate Communications & Investor Relations – investorrelations@aarons.com – (678) 402-3590. Now what. Aaron’s Holding Company will spin off the company’s Aaron’s Business segment to company shareholders this week. If you experience any issues with this process, please contact us for further assistance. Headquartered in Atlanta, The Aaron’s Company, Inc. (NYSE: AAN), is a leading omnichannel provider of lease-purchase solutions. It was a disappointing and challenging quarter for Aaron's. The plan is spin off Aaron’s, the company’s ~1,400 company-operated and franchised stores in 47 U.S. States & Canada, the ecommerce platform, … "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. var jbannerAdPost = jQuery("#Grow_Sales_Lumber_LeaderboardAd"); Vice President, Corporate Communications & Investor Relations, 678-402-3590 After submitting your request, you will receive an activation email to the requested email address. On July 29, 2020, Aaron’s Holding Co (AAN) announced that it intends to split into two companies. The separation will be completed through a pro rata dividend of The Aaron’s Company common stock to shareholders on record by November 27, 2020. At Aaron's, Inc., we promise to treat your data with respect and will not share your information with any third party. Company profile page for Aaron's Co Inc/The including stock price, company news, press releases, executives, board members, and contact information As the leading provider of in-depth business and credit information on the domestic lumber & forest products industry, a membership with Blue Book Services gives you access to: var jarticle1 = jQuery("article .entry-content > p:nth-child(1)"); 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. Aaron's may exclude merchandise from Express Delivery (where available) due to local merchandise restrictions at our discretion. Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Aaron's may exclude merchandise from Express Delivery (where available) due to local merchandise restrictions at our discretion. 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. ATLANTA, Dec. 1, 2020 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) ( "Aaron's"), a leading omni-channel provider of lease-purchase solutions, today announced that it has completed its spin-off from its former parent ("Parent"), and will operate as an independent, publicly-traded company, listed on the New York Stock Exchange under the ticker symbol "AAN.". Aaron's Holdings Sets Record And Closing Date For Spin-Off Of The Aaron's Business. Same day delivery limited to in-stock in-store merchandise ordered by 4 p.m. with approved agreement. Both companies stand to greatly benefit from the improved strategic focus as well as, market-leading positions and strong free cash flow to enable both companies to unlock better value creation opportunities. You can sign up for additional alert options at any time. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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. View The Aarons Company, Inc. AAN investment & stock information. Nov 17, 2020 6:20 PM EST. In the latest press release by The Aaron's Company Inc., dated 12/1/20, the company reported that it has completed its spin-off and will trade on the NYSE under the familiar ticker AAN. Aaron’s Holding Company will be renamed Prog Holdings Incl. If I’ve missed an upcoming spinoff or you have resources that you’d like included on this page, please contact me. The Aaron's Company, Inc. Completes Spin-off; Begins Trading as Independent, Publicly Traded Company. View real-time stock prices and stock quotes for a full financial overview. 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. Company Establishes Record Date of November 27, 2020 Anticipates Closing Spin-Off on November 30, 2020 Aaron's Holdings Company, Inc. (NYSE: AAN) (the "Company"), a leading omnichannel provider of lease-purchase solutions, today announced that its Board of Directors has established November 27, 2020 as the record date and November 30, 2020 as the anticipated closing date for the … 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 … 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. Delivery may be delayed if Aaron's cannot confirm customer's information or cannot reach customer to arrange delivery. Delivery may be delayed if Aaron's cannot confirm customer's information or cannot reach customer to arrange delivery. We raise our fair value estimate on Aaron’s (Stub) to $24.00 per AAN share (previously: $21.00 per AAN share) and Progressive Leasing (Spin-Off) to $49.00 per AAN share … Shareholders received cash in lieu of any fractional shares. Same day delivery limited to in-stock in-store merchandise ordered by 4 p.m. with approved agreement. For more information, visit Aarons.com or investor.aarons.com. ATLANTA, Dec. 1, 2020 /PRNewswire/ -- The Aaron's Company, Inc. , a leading omni-channel provider of lease-purchase solutions, today announced that it has completed its spin-off from its... | … “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. if(jarticle3.length > 0) jbannerAdPost.appendTo(jQuery(jarticle3[jarticle3.length-1])); else if(jarticle2.length > 0) jbannerAdPost.appendTo(jQuery(jarticle2[jarticle2.length-1])); else if(jarticle1.length> 0) jbannerAdPost.appendTo(jQuery(jarticle1[jarticle1.length-1])); else jbannerAdPost.hide();//? 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.”. In connection with the spin-off transaction, both Aaron’s and Progressive entered into new debt facilities to finance the … The Aaron’s Company, Inc. (NYSE: AAN) ( “Aaron’s”), a leading omni-channel provider of lease-purchase solutions, announced that it has completed its spin-off from its former parent (“Parent”), and will operate as an independent, publicly-traded company, listed on the New York Stock Exchange under the ticker symbol “AAN.”. Company Details Timing Supporting Info; Bluebird Bio : Spin of oncology unit: Q4 2021: Press release Inv presentation (1/21) "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. //?, How to recognize the signs of a failing business, Weston Forest Has Been Acquired by the Watermill Group, Report: Fire at Scotch Plywood’s Waynesboro Veneer Mill. as part of a spin-off of the company’s Aaron’s Business segment to company shareholders. var jarticle3 = jQuery("article .entry-content > p:nth-child(3)"); In the spin-off, Progressive shareholders received one share of Aaron’s common stock for every two shares of Progressive common stock held by them. 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. var jarticle2 = jQuery("article .entry-content > p:nth-child(2)"); Stock analysis for Aaron's Co Inc/The (AAN:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. “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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Aaron's Holdings Company, Inc. (NYSE:AAN) today announced that its Board of Directors has established November 27, 2020 as the record date and November 30, 2020 as the anticipated closing date for the distribution of the Aaron's Business segment to the Company's shareholders.Following the spin-off transaction, the Company will be renamed PROG Holdings, Inc and will trade on the New York Stock … By providing your email address below, you are providing consent to Aaron's, Inc. to send you the requested Investor Email Alert updates. The Aaron’s Company, Inc. ( “Aaron’s”), a leading omni-channel provider of lease-purchase solutions, announced that it has completed its spin-off from its former parent (“Parent”), and will operate as an independent, publicly-traded company, listed on the New York Stock … Company will spin off the Company ’ s Business segment to Company shareholders this.. Your data with respect and will not share your information with any third party will spin off Company... 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