Southfield, Michigan, April 17, 2013 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation( NASDAQ: CACC) (referred to as the"Company", "Credit Acceptance", "we", "our", or "us") announcedtoday the closing of the previously announced underwritten publicoffering by certain trusts affiliated with the founder and Chairmanof the Company Donald A. Foss and Karol A. Foss and certainindividuals and entities associated with Prescott General PartnersLLC of 1,500,000 shares of the Company's common stock at a price tothe public of $105.00 per share. The Company did not sell anyshares in the offering and did not receive any proceeds from theoffering. The underwriters have a 30-day option to purchaseup to an additional 225,000 shares of the Company's common stockfrom the selling shareholders. BofA Merrill Lynch and Credit Suisse Securities(USA) LLC acted as joint book-running managers for the offering,and BMO Capital Markets acted as a co-manager. The offering was made pursuant to an effectiveshelf registration statement (including a prospectus) filed withthe Securities and Exchange Commission (the "SEC") on April 8,2013. A prospectus supplement relating to the offering hasbeen filed with the SEC. Copies of the prospectus supplementand the accompanying prospectus can be obtained from BofA MerrillLynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department or email firstname.lastname@example.org andCredit Suisse Securities (USA) LLC, Attention: ProspectusDepartment, One Madison Avenue, New York, NY 10010, via telephone:+1 (800) 221-1037, or by e-mail:email@example.com. This press release does not constitute an offerto sell or a solicitation of an offer to buy the securitiesdescribed herein, nor shall there be any sale of these securitiesin any state or other jurisdiction in which such an offer,solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such state or otherjurisdiction. The offering has been made only by means of aprospectus supplement and accompanying prospectus.
About Credit AcceptanceCorporationSince 1972, Credit Acceptance has offeredautomobile dealers financing programs that enable them to sellvehicles to consumers, regardless of their credit history. Credit Acceptance is publicly traded on the NASDAQ under the symbolCACC.
CONTACT: Investor Relations: Douglas W. Busk Senior Vice President and Treasurer (248) 353-2700 Ext. 4432 IR@creditacceptance.com