latest news releases from the newsroom
Credit Acceptance Corporation
Credit Acceptance Corporation Announces Final Results of Its Modified Dutch Auction Tender Offer
SOUTHFIELD, Mich., Oct. 3, 2006 (PRIMEZONE) -- Credit Acceptance Corporation (Nasdaq:CACC) (the "Company") announced the final results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on September 26, 2006. Credit Acceptance commenced the tender offer on August 28, 2006, to purchase up to 3,500,000 shares of its common stock at a price between $28.00 and $31.50 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company of New York, the depositary for the tender offer, 20,552,028 shares of common stock were properly tendered and not withdrawn at prices between $28.00 and $31.50 per share. The final count of shares properly tendered is less than the amount communicated in the Company's preliminary announcement on September 27, 2006 by 24,584 shares due to failed deliveries of guaranteed delivery shares. Because more than the maximum 3,500,000 shares were tendered, the Company purchased only a prorated portion of the shares tendered by each tendering shareholder, other than odd lot shareholders, as described in the Company's Offer to Purchase. The proration factor used by the Company in purchasing tendered shares was 17.0%. Credit Acceptance has purchased 3,500,000 tendered shares of its common stock at a price of $31.50 per share, at a total cost of approximately $110.3 million, which includes 3,313,629 shares owned by Donald Foss, the Company's Chairman of the Board. The Company financed the purchase of its securities in the tender offer by borrowing under its $135.0 million revolving credit facility and $325.0 million revolving warehouse facility.
On Center Software
On Center and MC2 Team Up, Help Customers Save Time
THE WOODLANDS, Texas, Oct. 3, 2006 (PRIMEZONE) -- On Center Software, Inc., developers of the premier takeoff software On-Screen Takeoff(r) (OST), and MC2, makers of the Interactive Cost Estimating program ICE(r) 2000, announced that they are creating an integrated platform that will allow the two programs to work together. The result is a fast, comprehensive solution for the takeoff, estimating and bidding processes.
S2C Global Systems Inc
S2C Global Systems is Listed On the NASD Over the Counter Bulletin Board
LAS VEGAS, Oct. 3, 2006 (PRIMEZONE) -- In keeping with S2C Global Systems, Inc. (OTCBB:STWG) corporate strategy to provide the optimum liquidity and value to its shareholders, the Company has completed the process to be listed on the NASD-OTCBB. On September 28th, the Company's sponsor broker Pennaluna & Co. received written confirmation from the NASD that Pennaluna's filings on behalf of S2C Global had satisfied the requirements for listing on the NASD-OTCBB.
Pacific CMA Inc.
Paradigm Global Logistics Announces Expansion of Los Angeles Facility
JAMAICA, N.Y., Oct. 3, 2006 (PRIMEZONE) -- Terrence de Kretser, President of Paradigm Global Logistics (a division of Pacific CMA) (AMEX:PAM) today announced the completion of Paradigm's state-of-the-art warehouse and office complex in Los Angeles. The enlarged and newly upgraded space covers 14,000 square feet (a more than five-fold increase) and includes 16 security cameras and 10 loading docks.
Trier and Company
Trier and Company Announces New Search and Mobile Technology Client Wins
SAN FRANCISCO, Oct. 3, 2006 (PRIMEZONE) -- Trier and Company, a leading public relations firm that specializes in providing strategic communications services to high-growth enterprise and consumer technology firms, today announced the addition of two new clients to the agency's roster. NearbyNow and Fonpods are among the latest companies to select Trier and Company's PR's technology practice for comprehensive and strategic communications campaigns. Also, Trier and Company added Account Directors Alicia V. Nieva-Woodgate and Jean L. Lombard to its San Francisco-based staff.