UNITED STATES
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): December 4, 2013
Regional Management Corp.
(Exact name of registrant as specified in its charter)
Delaware | 001-35477 | 57-0847115 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
509 West Butler Road
Greenville, South Carolina 29607
(Address of principal executive offices) (zip code)
(864) 422-8011
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On December 4, 2013, Regional Management Corp. (the Company) issued a press release announcing that: (i) Palladium Equity Partners III, L.P., an existing stockholder of the Company and an affiliate of Palladium Equity Partners; (ii) Parallel 2005 Equity Fund, LP, an existing stockholder of the Company and an affiliate of Parallel Investment Partners; (iii) entities affiliated with Richard A. Godley, a director, existing stockholder and founder of the Company; and (iv) C. Glynn Quattlebaum, President and Chief Operating Officer of the Company and an existing stockholder and founder of the Company, have priced the previously announced underwritten public offering of 2,040,065 shares of the Companys common stock at $31.00 per share.
A copy of the Companys press release, dated December 4, 2013, is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
Description of Exhibit | |
99.1 | Press Release issued by Regional Management Corp. on December 4, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Regional Management Corp. | ||||||
Date: December 5, 2013 | By: | /s/ Thomas F. Fortin | ||||
Thomas F. Fortin | ||||||
Chief Executive Officer |
EXHIBIT INDEX
Exhibit |
Description of Exhibit | |
99.1 | Press Release issued by Regional Management Corp. on December 4, 2013. |
Exhibit 99.1
Regional Management Corp. Announces Pricing of Secondary Offering
Greenville, South Carolina December 4, 2013 Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, announced today that: (i) Palladium Equity Partners III, L.P., an existing stockholder of the Company and an affiliate of Palladium Equity Partners; (ii) Parallel 2005 Equity Fund, LP, an existing stockholder of the Company and an affiliate of Parallel Investment Partners; (iii) entities affiliated with Richard A. Godley, a director, existing stockholder and founder of the Company; and (iv) C. Glynn Quattlebaum, President and Chief Operating Officer of the Company and an existing stockholder and founder of the Company, have priced the previously announced underwritten public offering of 2,040,065 shares of the Companys common stock at $31.00 per share. Regional Management will not receive any proceeds from the offering. The closing of the offering is expected to occur on December 10, 2013, subject to satisfaction of customary closing conditions.
Stephens Inc. and Keefe, Bruyette & Woods, Inc. are serving as joint book-running managers for the offering, and FBR Capital Markets & Co. is serving as the co-manager. The selling stockholders have granted the underwriters an option for 30 days to purchase up to an additional 306,009 shares of common stock.
A shelf registration statement (including a prospectus and preliminary prospectus supplement) relating to the offering of the shares of common stock has previously been filed with the Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus, the preliminary prospectus supplement and other documents filed by the Company with the Securities and Exchange Commission for information about the Company and the offering. Copies of the prospectus and related preliminary prospectus supplement may be obtained by contacting either of the joint book-running managers or the co-manager at:
Stephens Inc. Attention: Syndicate 111 Center Street Little Rock, AR 72201 Toll Free: (800) 643-9691 |
Keefe, Bruyette & Woods, Inc. Equity Capital Markets 787 Seventh Avenue, 4th Floor New York, NY 10019 Toll Free: (800) 966-1559 | |
FBR Capital Markets & Co. Attention: Syndicate Prospectus Department 1001 Nineteenth Street North, Arlington, VA 22209 Telephone: 703-312-9500 Email: prospectuses@fbr.com |
You may also obtain these documents free of charge by visiting the Securities and Exchange Commissions website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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.
Forward-Looking Statements
This press release may contain various forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended, which represent Regional Managements expectations or beliefs concerning future events. Such forward-looking statements are about matters that are inherently subject to risks and uncertainties, many of which are outside of the control of Regional Management. Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, the following: the continuation or worsening of adverse conditions in the global and domestic credit markets and uncertainties regarding, or the impact of governmental responses to those conditions; changes in interest rates; risks related to acquisitions and new branches; risks inherent in making loans, including repayment risks and value of collateral, which risks may increase in light of adverse or recessionary economic conditions; recently-enacted or proposed legislation; the timing and amount of revenues and expenses that may be recognized by Regional Management; changes in current revenue and expense trends (including trends affecting delinquencies and charge-offs); changes in Regional Managements markets; market conditions affecting the secondary offering and general changes in the economy (particularly in the markets served by Regional Management). Such factors are discussed in greater detail in Regional Managements filings with the Securities and Exchange Commission. Regional Management Corp. will not and is not responsible for updating the information contained in this press release beyond the publication date, or for changes made to this document by wire services or Internet services.
About Regional Management Corp.
Regional Management Corp. (NYSE: 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 Managements 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.
Contacts:
Investor Relations
Garrett Edson, (203) 682-8331
Media Relations
Kim Paone, (646) 277-1216
5]0*S M/!?PP/B:R&K:O=2K%*>:^G]7UK3](TZ6YNKJ)%520"X^8XZ5\R7=Z-1\2B]`PLM MP"/IFC"3G-2Y]A2T/0OC!E=+T3!(_=^OM5KX;:PF@>`M2U&0%_+;*@GJ<55^ M,./[+T/_`'/Z55\,V$VI?"O5((%+2*^[`[\463H*^UQK BV_P`$]"6W"W%S/)-CEQCK7!?"_6K;1?%02\98DD!0N_&TU]#Q MSQ21AXY492,@AA48JI.G+EAH@6I\^^+_``3?>`[B+4-,O96MBY?EY">]>9_#K_D>;,_[1_G7TUP<4L;5E3DE'0(GS'XLT"7P/XD$-G=. M0N'BD!P1[5[%9:KK^L?#V*YTY5?4Y%VACV]Z\[^,V?\`A*H_^N=:T_BB]\-? M##3S886: IO-XGO/)B/S%O,!+'TZUMWWPK\ M'V]JY.I^2ZC._P`Q37.>#=$O_' (+B-8S]P2 '6NR^-A+OI;GJR9 M_2O/K00)XQA2V/\`HZW`"'/;->@?&DC.DX.?W?;Z5T225:#]1=#H/@M_R+-Q M_P!=!7IA&:\S^"W_`"+-Q_UT%>FUYF)_BR*6P#@4M%%9#"BBB@#P+XIG'B\_ M,V"!D!B*Q?$^DVFCBP^RO,3<0B1M['J?2O0?''@75M<\0_;+0Q>7CHS`51N_ M!?BN^$/VB"S '8;G28[O3I'O M6\O=.@D(>,_3TKHSX&\5'2&TTBU-L7W=1D&BW\">*[8^9;K;1R;-AD3&2*`. M4T#3K#5]0>SE%PACC+E@YY(JO86UC?Z[!8[)T1G*.=YR?>NPTSP!XIT>YEN8 M%MC+("K-(1T-1VGPZ\2V.H"_B6W$H;<-Q&`:8',:[I4&D27*(781R;4/F$G\ M1FK&LZ5IVE6VF3!;B3[6@9QO/'TKI+KP%XDOY)Y'ALC), .S(MQB+./EI` >AKZ,T\8T^W_P"N:_RK MQ:7X<>)[N_@N+J>&0QL/XQP/:O;+1&BM(8V^\J!3^%`#VZUS/B_PVNMV/F0@ M?:H^4/K[5U!4&DV@5,HJ2LR914ERL^>9H)K69H+B-HY5X((J/E2'4_,IR*]I M\2>%+/78MV!%<#I(!_.O+=6\-:GHKG[1`SQ=I4Y%<$Z,H,\FMAITG>.J/1]) MNK;Q3X4:S9@7,6QE[@XKYZUS1[K0=8GL+N)D*L2A(X(]J[C1=9N-$OEN; Y\]UI:%K5WH&J1 MW]F^UU(W+V85?\1^#-8\,3LMY;-)!_#/&,J1[USV<^]>^G&I'35&NJ9]/^%_ M&>F>*+17MIE2X`^>%C@@UT3+NC9?48KY$M;NXLKA;BUF>&5>C(<&O4O#7QDE MM8TMM=MVD11@3Q ?!RYN= O5[* M`VUI%`6W&-0N?6LO1_%>B:XBFQU")V8?<)PPK:7CGM7+5J5)653H4D*1Q7GW MCCX;OXKU**\AOOLY5=K`C.:]!XHP,U,)R@^:.X')>$/"5QX>T:32[VY2\MFZ M*5Z"N;U[X.V5S=-=:/=/9R$YV9^4'VKU'`HP*J-:I&7,GJ%D>,'X7>+95\E_ M$+^3TQN/2NA\-?"32=(G6ZU!VOKE3D;_`+H/K7HVT4;15RQ-22M<5D<9XYUC MPQ8V<>G^(HBT$H^3"9Q]#VKSVQ\`^'O$1:Z\.:^\`S_JY&PRU[!KOAW3O$-D M;74(!(G\+=U/M7G$_P`%C#<-+IFN3VX/08QBKH5(QC;F:?X`T+:?"_3+'_2_ M$&MM=1Q#=L:7Y3^=>97$<.H>,5CTR+]R9P(D4<`9KTG_`(4YJ5SA;SQ)'G ME (+#2XKC5(K M%H5VYD/WCCH*O^#-!M?!EDVF76I0RRW+912<%A["I/&_A>X\1_8HX<;87W%B M>AK`_P"$0\07.I6VJ7HB>ZMCLB4-P%'0_6L(OFARN6@^I=\3?"K1] 4_>]JTC4G%6YTPLC&TCX,0"Y^T:UJ+W1!R54]?8FO0KK0 M[5_#TNDV(CMX638NWH*\\ETWQ5IUO,TAN!;L!D!R3[TEE:>(-3DNVT[[1#;` M#Y'<_-ZX)J9J4]7,%8L>&OA/-H.O0ZF^J)*D9SMQUKU(,,\$$_6O-X/#'B2= M84EN9DMM^2AD.X4^/PMXC@@#PWCBZ$APS2$C945%SOWI#'>-_AO+XMU=;V/4 M%@"KMVXS6DG@C3F\'IHNK3+)'%R)@<;3ZUAP^'?%9:4?:)5D((+%_E;Z5-?> M#M;DMA!'<2/&\&)0TAY>KN[*//L(YJ7X0ZE9.;G2]<58>H?=CCZU-I_P^?5; MI(=5\6&Y3O"DG+5VS^'[^Z\"Q:9&6M[E!RK-][';-4H]*U2>""WM]#MK.>&/ M;]J8X.?4>M/ZQ-JW,%D ?"K4=2T:UM;S6U>> M`DF1N>/2KRZ#XG8!(7EBG`(FE>0D2?2JUUH>L:?>:;`IO+IF0F<+(>M5[:;M M>86.J\"^$Y/".DR6DER+@NV['UU?2+3;J04P.Y8/))S$OH:LR>, MK&6X-KI2OJ-ST(A'RK]37)-2E)O<9TM%4[$WC1;[P*KMSL7^&KE0`4444`>( M_$!M0NO'"V%I>31M(N%56(&:V/!'B2[%GJ'AW5)6%];QML+GDX%0^)=+U";X MH6=U#9S-`I!,JC@58^(OA2]%S'KVCQNUQC;*D?4T`5OANDVM6.M6=U=3,'D9 M58N MS2O8RDLDLA)P/:M3X36%_9K>M?6DL#.V +VNEGFAT6S;Y-A*^961XCU&_3QF M;?Q!/>6^BI\L?DY`(^M>G^"[/[%X7M(C;^3)L!92,'-9>L^)[=+J6SU'PW=W M$2=)!$&5J`*WA;3?#,M_%>:-K$[NH_U+3$[OJ#7)_$:[FC\=VL#WL\-JVWS- MC8`'>H[3P_?:GXTMM0T+2+C3;)'W.TOR@BK/C_3;^;QQ9W::=/ >&I MR=UHSS&Q\>'R38>(++S$(VLS+V]Q56_^&OAOQ)&;K0;U;:1N3D9^E>EWFC M:=?*5N;.)\]]O-<[-\/]/WF6QFFLY.H\MN,U=.=>E\+",:L-'[R/&=;^'?B/ M0\L]K]IB'\/Z5RCJT;E)%9&'56&"*^D4L_%>F*1%=0W\0XV2CFJEU'INHK MY6O>&0C]Y$3C]*]"GF;VJ(JZ>^A\]Q226\JRP2O'(.0R'!%=?I/Q.\2Z5M4W M0N8Q_#*,UW5S\+O"NI%GL+R6T<]%[`_C7/:A\&M8A!>PO;>Y4=`3@FNKZSAZ MJ]XI7Z&YIGQMMGPNI:>\9[O'R*[/2_B#X:U3'E:BD;?W9?EKP6]\$>)+!B)] M+D('=.16/-87ELV9;69"/5"*F6$HSU@QW9];P7EM &*UX/CC?+_`,?.D1G_`*YM6,L%670?,CVV@UY3;?'#364?:=-N(S[8 M-:4'QD\-RD!UN(_]Y:R>'JK[(71Z&*4?2N+B^*GA63`^VE<^JU;3XB^%Y.FJ M1CZBH]E-=!W.I-% SEU0'1?G1BN<_X3SP MS_T%8?SII\?^&%/.JQ4>SEV`Z4C(P1D>](JJO0`?05RDGQ)\+1C_`)"2M]`: MI2_%CPM&3BZ=_HM-4:CV3"YW!H%>;W'QH\/1? 2P^"_B%K9W:CK36Z-U&\@_I6O9?! MFQ.'U75+J[;^)2W!I.C2C\4ON"[-74_BUX:L,I!-)=2#HL2YS65%XY\6>(Y- MF@Z";>(\">Y'`]ZZ_2_`WAS1@/L>EPAQ_$XW']:Z!(EC0*BJBCLHP*GGI1TC M'[PU.!A\!:MK#+)XHUN:=>OV:!MJ?2NSTS1['2+9;>QMDAC']T +\< MUES?`ZW;_4:LZ_[R5Z_28K18FLOM"LCQ*7X'7H)\K5XR.V4JJ_P2UH'Y+^V; MZ\5[OBBK6-K+J'*CP)O@MXB#?+<6A'J6J-O@OXESQ):'_@=?06*3%/Z]6%RH M^??^%,>)?[]G_P!]TX?!7Q'_`,]K/_OJOH&BCZ]6'RH\$3X(ZV<;[RU'KBK" M?`W4#]_5(5^BYKW.DQ2>-K=PY4>.0?`Q`!Y^K9]=J5I6WP3T>/\`UUY-+[8Q M7J.*6H>*K/>061PMM\)O"UOC-M)(?]IJU[7P+X;M<>7I4!Q_>7-='16;JU'N MV.Q2@TC3K7'D6-O'CIMC`JX%5>@`^@I:*AN^X!28I:*`#%%%%`!1110`4444 E`)D49'K1@4;1Z4`+D44F!2T`%%%%`!1110`4444`%%%%`'__V3\_ ` end