CompuCredit Holdings Corporation Announces Results of Tender Offer to Purchase up to 8,250,000 Shares of Its Common Stock
September 18 2012 - 3:00PM
Marketwired
CompuCredit Holdings Corporation (NASDAQ: CCRT) ("CompuCredit")
today announced the results of its cash tender offer to purchase up
to 8,250,000 shares of its outstanding common stock, no par value
per share (the "Common Stock"), at a purchase price of $10.00 per
share. The tender offer expired at 11:59 p.m., New York City time,
on September 12, 2012 (the "Expiration Date").
Based on the count by American Stock Transfer & Trust
Company, LLC, the Depositary for the tender offer, as of the
Expiration Date, 22,671,663 shares of Common Stock were validly
tendered and not withdrawn in the tender offer.
In accordance with the terms and conditions of the tender offer
and based on the count by the Depositary, CompuCredit has accepted
for payment 8,250,000 shares of Common Stock at a purchase price of
$10.00 per share, for a total cost of approximately $82.5 million,
excluding fees and other expenses in connection with the tender
offer. CompuCredit has been informed by the Depositary that the
final proration factor is approximately 36.4%. The Depositary will
promptly issue payment for the shares validly tendered and accepted
for purchase and will return all other shares tendered.
The number of shares of Common Stock that CompuCredit has
accepted for purchase represents approximately 34.9% of the shares
of Common Stock outstanding.
American Stock Transfer & Trust Company, LLC served as
Depositary and Morrow & Co., LLC served as Information Agent
for the tender offer. Questions regarding the Tender Offer may be
directed to the Information Agent at (800) 607-0088 (toll free) and
(203) 658-9400 (for banks and brokerage firms).
About CompuCredit
CompuCredit is a provider of various credit and related
financial services and products to consumers who are underserved by
traditional financial institutions. For more information about
CompuCredit, visit www.CompuCredit.com.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements. These statements are based on
current expectations, estimates and projections about the industry
and markets in which CompuCredit operates, management's beliefs,
and assumptions made by management. It is important to note that
CompuCredit's actual results could differ materially from those
projected in such forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve
certain risks and uncertainties that are difficult to predict.
Reference is made to CompuCredit's regulatory filings with the
Securities and Exchange Commission for information or factors that
may impact CompuCredit's performance.
Morrow & Co., LLC (800) 607-0088
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