Regional Management Corp. Announces Filing of Form S-3 Resale Shelf Registration Statement on Behalf
Regional Management Corp. Announces Filing of Form S-3 Resale Shelf Registration Statement on Behalf of Selling Stockholders
GREENVILLE, S.C.--(BUSINESS WIRE)-- Regional Management Corp. (NYS: RM) , a diversified specialty consumer finance company, announced today that it has filed a resale shelf registration statement on Form S-3 with the Securities and Exchange Commission (the "SEC") covering 7,263,599 shares of Regional Management's common stock. The filing relates to a potential secondary offering by Regional Management's controlling stockholders (the "Selling Stockholders"), including affiliates of Palladium Equity Partners, LLC, Parallel Investment Partners, and Rick Godley. Regional Management will not receive any proceeds from any offering related to these shares.
After the SEC declares the resale shelf registration statement effective, the Selling Stockholders may offer up to 7,263,599 shares of Regional Management's common stock to the public. If the Selling Stockholders offer the shares through an underwritten offering, Regional Management will make a subsequent filing with the SEC setting forth the terms of the underwritten offering. Any offer to sell the shares, if and when such an offer is made, will be made pursuant to a prospectus or a prospectus supplement that will be issued with respect to any such offering.
The resale shelf registration statement has been filed with the Securities and Exchange Commission, but it is not yet effective. The securities registered under the resale shelf registration statement may not be sold, nor may offers to buy be accepted, prior to the time the resale shelf registration statement becomes effective. This press release is not intended to be and shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the 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.
About Regional Management Corp.
Regional Management Corp. (NYS: RM) is a diversified specialty consumer finance company providing a broad array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other traditional lenders. Regional Management began operations in 1987 with four branches in South Carolina and has since expanded its branch network across South Carolina, Texas, North Carolina, Tennessee, Alabama, Oklahoma, New Mexico, and Georgia. Each of its loan products is structured on a fixed rate, fixed term basis with fully amortizing equal monthly installment payments and is repayable at any time without penalty. Regional Management's loans are sourced through its multiple channel platform, including in its branches, through direct mail campaigns, independent and franchise automobile dealerships, online credit application networks, furniture and appliance retailers, and its consumer website. For more information, please visit http://www.RegionalManagement.com.
Garrett Edson, 203-682-8331
Kim Paone, 646-277-1216
KEYWORDS: United States North America South Carolina
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