Regional Management Corp. (NYSE:RM), a diversified specialty consumer finance company, announced today the launch of a secondary offering of 2,040,065 shares of its common stock. All of the shares are being offered by: (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. Regional Management will not sell any shares or receive any proceeds from the offering.
Regional Management provides installment loans, automobile purchase loans, furniture and appliance purchase loans, related credit insurance, and ancillary products and services primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other lenders. Most of Co.'s loan products are secured and each is structured on a fixed rate, fixed term basis with equal monthly installment payments, repayable at any time without penalty. Co.'s loans are sourced through its multiple channel platform, including in its branches, through direct mail campaigns, online credit application networks, furniture and appliance retailers, and its consumer website.
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