<div id="subtitle">Select Comfort climbs as company says it will lower debt by selling shares, removing overhang</div><div><p>Shares of Select Comfort Corp. climbed Tuesday as the mattress maker announced plans to lower its debt and bolster working capital by selling some shares.</p><p>Late Monday the Minneapolis company said the offering would meet a requirement of an amended credit agreement from last month. Early Tuesday morning it provided more details, saying it would sell 3.8 million shares of common stock at $4.75 per share.</p><p>Bradley Thomas of KeyBanc Capital Markets said that an offering between 3 million and 4 million shares would completely eliminate Select Comfort's debt.</p><p>"We believe completion of the deal will remove an overhang, and we would be buyers of the stock on this news," he wrote in a note to clients.</p><p>Thomas maintained a "Buy" rating and $9 price target.</p><p>Select Comfort's stock gained 30 cents, or 6 percent, to $5.31 in morning trading. Over the last year, the shares have traded in a range of 20 cents to $7.01.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=65019197&bid=informcom" /></div><div id="copyright"><div>

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