Encore Announces Pricing of Common Stock by Selling Stockholders
SAN DIEGO--(BUSINESS WIRE)--Jan. 21, 2005--Encore Capital Group, Inc. (NASDAQ:ECPG), a leading accounts receivable management firm, announced today the public offering of 3,084,574 shares of common stock at a price of $20.00 per share. Because all of the shares included in this offering are being sold by existing Encore Capital Group, Inc. stockholders, the Company will not receive any of the proceeds of the offering.
The common stock offering is being underwritten by Jefferies & Company, Inc. Copies of the prospectus relating to the offering may be obtained by contacting Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, New York 10022.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Encore Capital Group, Inc.
Encore Capital Group, Inc. is an accounts receivable management firm that specializes in purchasing charged-off and defaulted consumer debt. More information on the company can be found at www.encorecapitalgroup.com.
Forward Looking Statements
The foregoing statements regarding the selling stockholders' intentions with respect to the contemplated common stock offering are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. The selling stockholders' ability to complete the offering successfully is subject to various risks, may of which are outside of their control, including prevailing conditions in the capital markets and other risks and uncertainties detailed from time to time in the reports filed by Encore with the Securities and Exchange Commission.
CONTACT: Encore Capital Group, Inc. (Shareholders/Analysts)
Carl C. Gregory, III, 858-309-6961
carl.gregory@encorecapitalgroup.com
or
Financial Relations Board (Press)
Tony Rossi, 310-407-6563 (Investor Relations)
trossi@financialrelationsboard.com
SOURCE: Encore Capital Group, Inc.