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LADD RAISES ADDITIONAL $4.5 MILLION FROM STOCK OFFERING

 LADD RAISES ADDITIONAL $4.5 MILLION FROM STOCK OFFERING
 HIGH POINT, N.C., June 9 /PRNewswire/ -- LADD Furniture, Inc. (NASDAQ-NMS: LADF) chairman Richard R. Allen announced today that the underwriters of LADD's recent public stock offering have exercised their overallotment option and purchased an additional 525,000 shares of LADD common stock from the company. Allen said LADD received an additional $4.5 million of new equity capital from the sale of the overallotment shares, bringing total net proceeds from the company's recent stock offering to $34.3 million. On May 12, 1992, LADD sold 3.5 million shares of its common stock as part of a 5.5 million share public offering managed by Dillon, Read & Co. Inc., Interstate/Johnson Lane Corporation and Wheat First Butcher & Singer Capital Markets. Following the offering, LADD has 23 million common shares outstanding.
 Headquartered in High Point, N.C., LADD is one of the largest U.S. producers of residential and contract furniture, marketing its broad range of wood, upholstered and metal furniture under the major brand names American Drew, American of Martinsville, Barclay, Brown Jordan, Clayton Marcus, Daystrom, Design Horizons, Lea Industries and Pennsylvania House. LADD also owns and operates two support companies, Lea Lumber & Plywood and LADD Transportation and its stock is traded on the over-the-counter National Market System under the NASDAQ symbol LADF.
 -0- 6/9/92
 /CONTACT: John J. Ong, LADD Furniture, Inc., 919-888-6353/
 (LADF) CO: LADD Furniture, Inc. ST: North Carolina IN: REA SU: OFR


JZ -- CH008 -- 8444 06/09/92 15:29 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
Words:256
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