-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Wp9dFXOvYUvc/7kRPppWb9pcA6yMSvoJ3xRWHS/YyE1XCmNZYl6na/OoSEMsj8KD SFppUBepIjmS06pIna1tlA== 0001042689-98-000003.txt : 19980513 0001042689-98-000003.hdr.sgml : 19980513 ACCESSION NUMBER: 0001042689-98-000003 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980430 FILED AS OF DATE: 19980512 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ACCEPTANCE CORP /IN/ CENTRAL INDEX KEY: 0000937965 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 351739977 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: SEC FILE NUMBER: 033-89520 FILM NUMBER: 98615996 BUSINESS ADDRESS: STREET 1: 1025 ACUFF ROAD CITY: BLOOMINGTON STATE: IN ZIP: 47404 BUSINESS PHONE: 8128763555 MAIL ADDRESS: STREET 1: 1025 ACUFF ROAD STREET 2: SUITE N CITY: BLOOMINGTON STATE: IN ZIP: 47404 COMPANY DATA: COMPANY CONFORMED NAME: CIHC INC CENTRAL INDEX KEY: 0001042689 STANDARD INDUSTRIAL CLASSIFICATION: [] OWNER STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 BUSINESS ADDRESS: STREET 1: 1209 ORANGE STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3178172679 MAIL ADDRESS: STREET 1: 1209 ORANGE STREET CITY: WILMINGTON STATE: DE ZIP: 19801 4 1 FORM 4 - 04/30/98 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person CIHC,, Incorporated 1209 Orange Street Wilmington, DE 19801 USA 2. Issuer Name and Ticker or Trading Symbol General Acceptance Corporation (GACC) GACC 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year 04/30/98 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) ( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| None | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Right to Purchase 12%|$.25 |3/12/|A | |$3,250,000 |A |(1) |4/11/| Common Stoc|13,000,|$3,250,| |D | | Subordinated Converti| |98 | | | | | |00 |k |000 |000 | | | | ble Debentures | | | | | | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Right to Purchase 12%|$.25 |3/24/|D | |$3,250,000 |D |(2) | |Common Stock|13,000,|$3,250,| |D | | Subordinated Converti| |98 | | | | | | | |000 |000 | | | | ble Debentures | | | | | | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Right to Purchase 12%|$.25 |3/24/|A | |$3,250,000 |A |(2) | |Common Stock|13,000,|$3,250,| |I |Wholly-owned| Subordinated Converti| |98 | | | | | | | |000 |000 | | | subsidiary | ble Debentures | | | | | | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| 12% Subordinated Conv|$3.00 |3/12/|D | |$10,000,000|D |Immed|4/11/|Common Stock|3,333,3|(3) | | I |Wholly-owned| ertible Debenture | |98 | | | | |iate |00 | |33 | | | | subsidiary | - -----------------------------------------------------------------------------------------------------------------------------------| 12% Subordinated Conv|$.25 |3/12/|A | |$10,000,000|A |Immed|4/11/|Common Stock|40,000,|(3) |53,000,000 |I |Wholly-owned| ertible Debenture | |98 | | | | |iate |00 | |000 | | | | subsidiary | - -----------------------------------------------------------------------------------------------------------------------------------| Agreement to Purchase|$.25 |3/12/| | |16,000,000 |A |(4) | |Common Stock|16,000,| | |D | | Common Stock | |98 | | | | | | | |000 | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Agreement to Purchase|$.30 |3/12/|A | |3,814,000 |A |(4) | |Common Stock|3,814,0| |19,814,000 |D | | Common Stock | |98 | | | | | | | |00 | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: (1) On March 12, 1998 the reporting person entered into an agreement to purchase the securities with a closing to occur within 60 days. (2) Reporting person assigned the right to purchase convertible debentures to a wholly-owned subsidiary. (3) On March 12, 1998, the conversion price was adjusted pursuant to the terms of the debenture. (4) Agreements to purchase common stock were entered into on 3/12/98 with a closing to occur within 60 days. SIGNATURE OF REPORTING PERSON William T. Devanney -----END PRIVACY-ENHANCED MESSAGE-----