Accredited Obtains Regulatory Approvals for Lone Star Acquisition
10 Agosto 2007 - 5:00AM
Business Wire
Accredited Home Lenders Holding Co. (NASDAQ:LEND) (�Company�) today
announced that it has received regulatory approvals from states
representing over 95% of the Company�s loan production volume for
2006, thereby satisfying one of the primary conditions to the close
of the pending tender offer for the Company�s outstanding stock by
an affiliate of Lone Star Fund V (U.S.), L.P. The tender offer is
currently scheduled to expire at midnight on August 14, 2007. About
Accredited Accredited Home Lenders Holding Co. is a mortgage
company operating throughout the U.S. and in Canada. Accredited
originates, finances, securitizes, services, and sells non-prime
mortgage loans secured by residential real estate. Founded in 1990,
the company is headquartered in San Diego. Additional information
may be found at www.accredhome.com. About Lone Star Funds Lone Star
is a leading U.S. private equity firm. Since 1995, the principals
of Lone Star have organized private equity funds totaling more than
$13.3 billion to invest globally in corporate secured and unsecured
debt instruments, real estate related assets and select corporate
opportunities. Additional information may be found at
www.lonestarfunds.com. Forward Looking Statements This release
contains forward-looking statements within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934.
These forward-looking statements involve a number of risks and
uncertainties, including the Company�s ability to close the
proposed merger with Lone Star, and other risk factors as outlined
in Accredited Home Lenders Holding Co.�s annual report on Form 10-K
for the year ended December 31, 2006, and other documents filed by
the Company with the Securities and Exchange Commission. These and
other factors could cause the Company�s actual results to differ
materially from what it projects or contemplates in its
forward-looking statements. The Company cautions readers that the
non-prime mortgage industry and the Company�s business are subject
to numerous significant risks and uncertainties.
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