Atlanticus announces full redemption of 5.875% convertible


ATLANTA, June 17, 2021 (GLOBE NEWSWIRE) – Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus”, “the Company”, “we”, “us” or “our”), a financial services company based on the technology, today announced that it has given notice of the repayment of all of the aggregate principal amount of $ 16.5 million of its outstanding 5.875% convertible senior notes due 2035. The repayment date of the notes is July 19, 2021. The Notes were issued pursuant to the Terms of Trust Deed, dated November 23, 2005, between the Company and US Bank, as Trustee. Tickets are redeemable at a cash redemption price equal to 100% of the principal amount of the banknotes in circulation. Noteholders have the right to convert the Notes called for redemption no later than 5:00 p.m. ET on July 16, 2021 for the consideration set out in the Indenture.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be illegal. .

About Atlanticus Holdings Corporation

Founded in 1996, our company uses proprietary analytics and a flexible technology platform to enable financial institutions to provide various related credit and financial services and products to the financially underserved consumer credit market. We apply the experience gained and the infrastructure built serving over 18 million customers and $ 26 billion in consumer loans over our 24 years of operation to support lenders who offer a range of lending products. for consumption. These products include retail credit and general purpose credit cards marketed through our omnichannel platform, including retail outlets, direct mail solicitation, internet marketing and third party partnerships. Additionally, through its subsidiary CAR, Atlanticus caters to the individual needs of auto dealers and non-privileged auto finance organizations with multiple financing and service programs.

Forward-looking statements

This press release contains forward-looking statements that reflect the Company’s current views regarding, among other things, its repayment plans for its 5.875% senior convertible bonds due 2035. You can generally identify such statements by using words such as that “perspectives” and “. “,” Potential “,” continue “,” may “,” seek “,” about “,” foresee “,” believe “,” expect “,”, similar expressions or negative versions of these words or comparable words, as well as future or conditional verbs such as “will”, “should”, “would”, “probably” and “could”. These statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those included in forward-looking statements. These risks and uncertainties include the risks described in documents filed by the Company with the Securities and Exchange Commission and include, without limitation, risks relating to the extent and duration of the COVID-19 pandemic and its impact on the Company, banking partners, merchants, consumers, credit demand, capital markets and the economy in general; the Company’s ability to retain existing merchants and sources of funding and to attract new ones; changes in market interest rates; increased loan arrears; its ability to operate successfully in a highly regulated industry; the outcome of litigation and regulatory matters; the effect of management changes; cyber attacks and security breaches of its products and services; and the Company’s ability to compete successfully in highly competitive markets. Forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, the Company disclaims any obligation to update any forward-looking statement to reflect events or developments. circumstances after the date on which the report is made or to reflect the occurrence of unforeseen events. In light of these risks and uncertainties, there can be no assurance that the events or results suggested by forward-looking statements will actually occur, and you should not place undue reliance on such forward-looking statements.

Investor Relations

Adam Prior
Senior Vice President
The Equity Group Inc.
(212) 836-9606


About Author

Leave A Reply