Debt Purchaser Asset Acceptance Going Public

Published on:
12 September 2006 at 10:16 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002000-debt-purchaser-asset-acceptance-going-pub/

Consumer debt collector Asset Acceptance LLC filed with the Securities and Exchange Commission on Friday for an initial public offering of up to $115 million worth of common stock. This effectively completes the first step in the process of taking a company public. A price or amount of shares to be offered were not provided in the initial prospectus. Those details are expected in later filings closer to the date of release of common stock.

Bear Stearns, William Blair, CIBC World Markets and Suntrust Robinson Humphrey are to underwrite the offering.

The Warren, Michigan-based company said it planned to use IPO proceeds to pay off debt.

The company has proposed to list on the Nasdaq under the symbol “AACC”.

Debt Purchaser Asset Acceptance Going Public

Unknown Author

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