| Ticker: ACCI | 12750 High Bluff Drive, Suite 320 | |
| Exchange: NASDAQ-National Market | San Diego, California 92130 | |
| Industry: Financial | (619) 793-6300 |
| Type of Shares: | Common Shares | Filing Date: | 10/26/95 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 5/16/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 1,700,000 | Offer Price: | $7.25 | |
| Secondary Shares: | 300,000 | Gross Spread: | $0.51 | |
| Offering Amount: | $24,000,000 | Selling: | $0.26 | |
| Expenses: | $756,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,992,478 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| CS First Boston | Co-manager | (212) 909-3312 |
| McDonald & Company Securities, Inc. | Co-manager | (216) 443-2300 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $13.15 | $4.68 | $1.32 | Assets: | $50.09 |
| Net Income: | $3.25 | $0.72 | -$0.56 | Liabilities: | $42.02 |
| EPS: | $0.55 | $0.13 | Equity: | $8.07 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| ACC Consumer Finance Corporation specializes in the indirect financing of automobile installment contracts, originated primarily by franchised automobile dealers, for consumers who pose credit risks due to past credit problems. These consumers are unlikely to qualify for financing from traditional automobile financing sources such as commercial banks, savings and loans, thrift and loans, credit unions and the captive finance companies of automobile manufacturers. Through its financing program, the Company provides automobile dealers with a source of financing for Non-Prime Borrowers. ACC was founded by three senior executives with extensive experience in non-prime credit evaluation, asset securitization and collections. ACC has experienced significant growth since its formation in July 1993. The automobile finance market is one of the largest consumer finance markets in the United States, with $356 billion in outstanding credit as of January 1996. Since its formation, ACC has targeted the highly fragmented non-prime segment of this market. |
| Use of Proceeds |
| Proceeds from the offering will be used to repay temporarily a subordinated debt facility, to reduce temporarily the outstanding balance on its warehouse facility and for general corporate purposes. |
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