ACE Cash Express' Underwriters Exercise Over-Allotment Option
April 26 2004 - 6:02PM
PR Newswire (US)
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/
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