Ace Cash Express (NASDAQ:AACE)
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From Jul 2019 to Jul 2024
ACE Cash Express' Underwriters Exercise Over-Allotment Option
DALLAS, April 26 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc. announced
today that the underwriters of its recent public offering have exercised their
over-allotment option for an additional 435,000 shares of common stock, priced
at $27.00 per share. 370,000 of the shares to be sold upon the consummation of
the exercise of the over-allotment option are sold by the Company and 65,000 of
the shares are sold by selling stockholders.
The offering is being led by Thomas Weisel Partners LLC. Stephens, Inc., JMP
Securities and Roth Capital Partners are serving as co-managers for the
offering. Copies of the final prospectus relating to the offering may be
obtained by contacting Thomas Weisel Partners LLC at One Montgomery Street,
Suite 3700, San Francisco, California 94104.
A registration statement relating to these securities has been filed with and
declared effective by the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
Forward-looking Statements
This release contains certain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements are
generally identified by the use of words such as "expect," "anticipate,"
"estimate," "believe," "intend," "plan," "target," "goal," "should," "would,"
and terms with similar meanings.
Although the Company believes that the current views and expectations reflected
in these forward-looking statements are reasonable, these views and
expectations, and the related statements, are inherently subject to risks,
uncertainties, and other factors, many of which are not under the Company's
control and may not even be predictable. Any inaccuracy in the assumptions, as
well as those risks, uncertainties and other factors, could cause the actual
results to differ materially from these in the forward-looking statements.
These risks, uncertainties, and factors include, but are not limited to,
matters described in the Company's reports filed with the Securities and
Exchange Commission, such as:
-- the Company's relationships with Republic Bank, with Travelers
Express and its affiliates, with its bank lenders, with American
Capital Strategies, Ltd. and with H&R Block;
-- the Company's relationship with third-party providers of services
offered by the Company or property used in its operations;
-- federal and state governmental regulation of check cashing, short-
term consumer lending and related financial services businesses;
-- any litigation regarding the Company's short-term consumer lending
activities;
-- theft and employee errors;
-- the availability of adequate financing, suitable locations,
acquisition opportunities and experienced management employees to
implement the Company's growth strategy;
-- increases in interest rates, which would increase the Company's
borrowing costs;
-- the fragmentation of the check cashing industry and competition from
various other sources, such as banks, savings and loans, short-term
consumer lenders, and other similar financial services entities, as
well as retail businesses that offer services offered by the Company;
-- the terms and performance of third-party services offered at the
Company's stores; and
-- customer demand and response to services offered at the Company's
stores.
The Company expressly disclaims any obligation to update or revise any of these
forward-looking statements, whether because of future events, new information,
a change in the Company's views or expectations, or otherwise. The Company
makes no prediction or statement about the performance of its Common Stock.
About the Company
ACE Cash Express, Inc. is a leading retailer of financial services, including
check cashing, short-term consumer loan and bill payment services, and the
largest owner, operator and franchisor of check cashing stores in the United
States. As of March 31, 2004, the Company had a network of 1,203 stores in 36
states and the District of Columbia, consisting of 988 company-owned stores and
215 franchised stores. The Company focuses on serving unbanked and underbanked
consumers, many of whom seek alternatives to traditional banking relationships
in order to gain convenient and immediate access to check cashing services and
short-term consumer loans. The Company's website is found at
http://www.acecashexpress.com/ .
DATASOURCE: ACE Cash Express, Inc.
CONTACT: William S. McCalmont, Executive Vice President & CFO,
+1-972-753-2314, or , or Michael J. Briskey,
Senior Vice President & Treasurer, +1-972-753-2342, or
, both of ACE Cash Express, Inc.
Web site: http://www.acecashexpress.com/