December 15, 2009 (FinancialWire) — Select Comfort Corp. (NASDAQ: SCSS) has closed an underwritten public offering of 3.8 million shares of its common stock at a public-offering price of $4.75 per share.

Piper Jaffray & Co. (NYSE: PJC) acted as the sole manager for the offering.

The company stated it will use the proceeds of the public offering to improve working capital and pay down debt.

Minneapolis-based Select Comfort designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number bed, as well as foundations and bedding accessories.

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