WARREN, Mich., May 22 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. , a leading purchaser and collector of charged-off consumer debt, today announced that it had filed a registration statement on behalf of its largest shareholder, AAC Quad-C Investors LLC, allowing it to sell up to 10,932,051 shares from time to time in the future when it determines that sales are in its interest. Terrence D. Daniels and Anthony R. Ignaczak, principals of the selling shareholder, remain directors of Asset Acceptance Capital Corp. Sales by the shareholder will be made from time to time in the market or in private transactions at prevailing market prices or negotiated prices without an underwriter and without any special marketing efforts. Asset Acceptance Capital Corp. will not receive any of the proceeds from these sales.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or a solicitation 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. Any offer, solicitation or sale will be made only by means of a prospectus.
About Asset Acceptance Capital Corp.
For more than 45 years, Asset Acceptance has provided credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt.
