-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CokdyyaJSZ35H/SJJDXQrpWBJh1Ps6MtpLcwm6frqqjz5qukUGpvVUhfVDcBanpL zCK4QBXXiYjiwXh5v8WocQ== 0000928385-99-002519.txt : 19990811 0000928385-99-002519.hdr.sgml : 19990811 ACCESSION NUMBER: 0000928385-99-002519 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990810 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPUCREDIT CORP CENTRAL INDEX KEY: 0001068199 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 582336689 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-25751 FILM NUMBER: 99683105 BUSINESS ADDRESS: STREET 1: TWO RAVINIA DR STREET 2: SUITE 1750 CITY: ATLANTA STATE: GA ZIP: 30346 BUSINESS PHONE: 7709015840 MAIL ADDRESS: STREET 1: TWO RAVINIA DR STREET 2: SUITE 1750 CITY: ATLANTA STATE: GA ZIP: 30346 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) August 10, 1999. CompuCredit Corporation ------------------------------------------------------ (Exact name of registrant as specified in its charter) Georgia 000-25751 58-2336689 - ------------------------------- ------------------------ ---------------------------- (State or Other Jurisdiction of (Commission File Number) (IRS Employer Identification Incorporation) Number)
One Ravinia Drive, Suite 500 Atlanta, Georgia 30346 - --------------------------------------- ---------- (Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (770) 206-6200 ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) INFORMATION TO BE INCLUDED IN THE REPORT Item 1. Not Applicable. Item 2. Not Applicable. Item 3. Not Applicable. Item 4. Not Applicable. Item 5. On August 6, 1999, CompuCredit Corporation issued a notice announcing that it will not proceed with the previously announced private placement of Series A Convertible Preferred Stock in the amount of $100,000,000 (2,000,000 shares). Item 6. Not Applicable. Item 7. Exhibits. The following is filed as an Exhibit to this Report under Exhibit A. Exhibit A Notice. Item 8. Not Applicable. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, CompuCredit Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMPUCREDIT CORPORATION By: ________________________ Name: ______________________ Title: ____________________ 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, CompuCredit Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMPUCREDIT CORPORATION By: /s/ Brett M. Samsky --------------------------- Name: Brett M. Samsky Title: Chief Financial Officer 4 EXHIBIT INDEX Exhibit Description - ------- ----------- A Notice 5 EX-99 2 EXHIBIT A -- NOTICE EXHIBIT A --------- N E W S R E L E A S E FOR IMMEDIATE RELEASE Contact: Brett Samsky CompuCredit Corporation 770 206-6200 COMPUCREDIT ANNOUNCES IT WILL NOT PROCEED WITH OFFERING DUE TO MARKET CONDITIONS (Atlanta, GA) CompuCredit Corporation (NASDAQ: CCRT) today announces that it will not proceed with its previously disclosed plan to offer up to $100 million of convertible preferred stock. "The deterioration in market conditions, especially when contrasted with our strong business fundamentals, makes an offering unattractive at this time," said David Hanna, CompuCredit's Chairman and Chief Executive Officer. "The proposed offering as originally contemplated was an opportunistic transaction designed to raise additional capital and fund growth in excess of that contemplated by our business plan," added Hanna. Additionally, Hanna said that "our current growth plans remain very strong. We continue to add 20,000 to 25,000 new customers each week. In addition to our traditional growth channels, we launched our internet site for applications, www.AspireCard.com, and we think this will allow us to add more customers - ------------------ through alternative channels." During the second quarter of this year, CompuCredit added over 277,000 new customers, placing it in the top ten credit card companies in the country for new account origination. CompuCredit Corporation is a credit card company that uses technology based analytical techniques it has developed to identify credit-worthy consumers who it believes are not currently being served by more traditional consumer credit providers. CompuCredit completed its initial public offering in April 1999. CompuCredit markets Aspire(R) Visa(R) credit cards to these consumers on an unsecured basis. CompuCredit also markets life insurance, card registration, telecommunication products, membership in buying clubs, travel services and debt waiver programs to its cardholders. Aspire Visa cards are issued by Columbus Bank and Trust under an agreement with CompuCredit. CompuCredit was included in the Russell 2000(R) Index in July of this year. 6 This press release includes statements concerning our operations, prospects, strategies, financial condition, future economic performance and consumer demand for our products, as well as our intentions, plans and objectives that are forward-looking statements within the meaning of the federal securities laws and are intended to have the benefit of the federal safe harbor for forward-looking statements. CompuCredit can give no assurance that its plans or expectations, as reflected in these forward-looking statements will be achieved. These forward-looking statements are subject to various assumptions, risks, trends, uncertainties and other factors that could cause actual results to differ materially from those that are currently planned or expected. These factors include the risks set forth under the caption "Risk Factors" in CompuCredit's prospectus dated April 22, 1999 on file with the Securities and Exchange Commission. Moreover, as a consequence of those or other factors, CompuCredit's plans or expectations may change. CompuCredit undertakes no obligations to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. 7 -----END PRIVACY-ENHANCED MESSAGE-----