Hhgregg Disappoints

Hhgregg Inc., an Indianapolis-based retailer of audio/video products, branded appliances and accessories, raised $121.88 million from its IPO. The company priced 9.375 million common shares at $13 per share ($15-$17 range), which gives it an initial market cap of around $411 million. It will to trade on the NYSE under ticker symbol HGG, while Credit Suisse and Lehman Brothers served as co-lead underwriters. Freeman Spogli & Co. was the company's largest shareholder with a 64% pre-IPO stake, followed by CalSTRS (10.5%). www.hhgregg.com