LodgeNet Interactive Corporation (Nasdaq: LNET) today announced that it priced a public offering of 2.16 million shares of its common stock at a price of $6.00 per share. Craig-Hallum Capital Group, LLC acted as underwriter for the offering. The public offering of shares is expected to close on March 22, 2010. After deducting fees and expenses, LodgeNet will receive approximately $11.9 million in net proceeds from the sale. The underwriter has been granted an option to purchase up to an additional 324,000 shares to cover over-allotments, which, if exercised, will generate an additional $1.8 million of net proceeds. 

The Company intends to use 50% of the net proceeds from the offering to accelerate deployment of its new high-definition interactive system into select hotels; the Company is required to apply 50% of the net proceeds against its Bank Credit Facility.

The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from the offices of Craig-Hallum Capital Group, LLC, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota  55402 or by calling (612) 334-6300. Electronic copies of the prospectus and the prospectus supplement are available on the Securities and Exchange Commission’s Website.

This press release does not constitute an offer to sell these securities or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.