Credit Acceptance Corp. makes announcement.SOUTHFIELD, Mich.--(BUSINESS WIRE)--Aug. 7, 1995--Credit Acceptance Corp. today announced that it is contemplating a public offering of approximately 3,400,000 shares of its Common Stock to be offered by the company and approximately 1,600,000 of shares of Common Stock to be offered by its majority shareholder pursuant to a Registration Statement to be filed later this month. If plans develop and the offering is consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. , the proceeds of the offering will be used to repay bank indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. and for general corporate purposes; however, there can be no assurance when, or if, the offering will be completed. Credit Acceptance Corp. is a specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company providing funding, receivables management, collection, insurance products, sales training and related services to automobile dealers selling vehicles to consumers with limited access to traditional sources of consumer credit. The Common Stock related to the offering may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective and offers and sales may only be made by means of a Prospectus relating thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. . This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State. CONTACT: Credit Acceptance Corp., Southfield Brett A. Roberts, 810/353-2700, ext. 423 |
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