LodgeNet Interactive Corporation (NASDAQ:LNET) today announced that it has successfully completed its previously announced offering of 2.16 million shares of common stock, $0.01 par value. In addition, the Company announced that Craig-Hallum Capital Group, LLC, the underwriter of the offering, exercised in full its option to purchase an additional 324,000 shares of common stock to cover over-allotments, bringing the total amount of common stock sold to 2,484,000 shares. The sale price to the investors was $6.00 per share. The offering was completed pursuant to LodgeNet’s shelf registration statement filed on January 14, 2010. After fees and expenses, the net proceeds will be approximately $13.7 million.

Approximately $6.8 million of the net proceeds are expected to be used by the Company to significantly accelerate the deployment of its high-definition (“HD”) interactive systems into select hotels signing new contract extension agreements. The Company expects that the proceeds from the offering and additional cash from operations will enable it, over the balance of the year, to more than double the number of hotel rooms it originally planned to convert to its HD platform in 2010, increasing from approximately 50,000 to more than 110,000 rooms. The balance of net proceeds will be used to reduce the outstanding balance of the term loan as required under its Credit Facility.