Key Developments For World Acceptance Corporation
World Acceptance Corporation (WRLD.O) (Nasdaq)
World Acceptance Corporation Appoints Chief Financial Officer-Form 8-K
World Acceptance Corporation reported in its Form 8-K that effective May 11, 2009, Kelly M. Malson was promoted to Senior Vice President and Chief Financial Officer.
World Acceptance Corporation Announces $10 Million Stock Repurchase Program
World Acceptance Corporation announced that its Board of Directors has authorized the Company to repurchase up to an aggregate of $10 million of its common stock. This $10 million authorization is in addition to remaining capacity under an existing authorization to repurchase up to $55 million of the Company's common stock. The timing and actual number of shares repurchased will depend on a variety of factors including the stock price, corporate and regulatory requirements and other market and economic conditions. The stock repurchase program may be suspended or discontinued at any time.
World Acceptance Corporation to Purchase Assets from Titan Financial Group for $14.5 Million
World Acceptance Corporation announced that it has agreed to purchase assets, consisting primarily of loans receivable, from Titan Financial Group, II, LLC, and certain of its affiliated companies for approximately $14.5 million in cash. The assets include the loan portfolios and operating assets of Titan office locations across Georgia and South Carolina. On October 6, 2006, the Bankruptcy Court Judge exercising jurisdiction over the Chapter 11 bankruptcy cases filed by Titan and its affiliates entered an order approving the agreed purchase terms. World expects to close this acquisition in mid- October.
World Acceptance Corporation Announces $55 Million Stock Repurchase Program; Prices $100 Million 3.00% Convertible Senior Subordinated Note Offering
World Acceptance Corporation announced that its board of directors has authorized the Company to repurchase up to an aggregate of $55 million of its common stock. This repurchase program replaces all previously announced common stock repurchase programs. The Company also announced the pricing of $100 million principal amount of its Convertible Senior Subordinated Notes due 2011. The sale of the notes is expected to close on October 10, 2006. The company has granted to the initial purchasers of the notes an overallotment option exercisable within three days to purchase an additional $10 million principal amount of the notes.
World Acceptance Corporation to Offer $100 Million of Convertible Senior Subordinated Notes
World Acceptance Corporation announced that its intention to offer to qualified institutional buyers, $100 million in aggregate principal amount of Convertible Senior Subordinated Notes due 2011. The company also intends to grant the initial purchasers an option to purchase up to an additional $10 million principal amount of the notes. The notes will be senior subordinated unsecured obligations of the company and will be convertible, under certain circumstances, into a combination of cash and common stock of the company.
