Articles Tagged with ''Accredited Home Lenders Holding Co.''

Accredited Home Lenders' CEO Konrath Steps Down

Accredited Home Lenders Holding Co. said Tuesday that founding CEO James A. Konrath has retired from his post; no reasons for his departure were given, although sources suggest the exit was planned in accordance with the firm's acquisition by Lone Star Funds last October.
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Accredited, Lone Star Nearing Completion of Merger

After what could only be described as a rocky courtship, a Lone Star Funds subsidiary -- appropriately enough, called LSF5 Accredited Investments, LLC -- said yesterday that all conditions to the closing of its outstanding tender offer to acquire troubled subprime lender Accredited Home Lenders Holding Co. have been satisfied.
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Lone Star Again Extends Accredited Offer Deadline

Via the Associated Press wire: Private equity firm Lone Star Fund V said Monday it has extended its tender offer to acquire all outstanding shares of common stock of Accredited Home Lenders Holding Co. The tender offer is available until 12:00 a.m. Oct. 5. As of Sept. 21, Lone Star had already received about 19.1 million, or 76 percent, of outstanding shares.
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Accredited, Lone Star Agree to Amended Merger

Accredited Home Lenders Holding Co., after filing its quarterly report for the first quarter earlier today and raising questions of its survival, said this evening after market close that it has agreed to an amended merger agreement that will see the subprime lender acquired by Lone Star for $11.75 a share, or $296 million.
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Accredited Posts First Quarter Loss, Says 'Viability' May be in Question

Accredited Home Lenders Holding Co. finally filed its 10-Q with the SEC today for the first quarter of 2007, and the results were anything but pretty: the subprime lender posted a net loss of $260.1 million and said that barring the sale of the company or other outside liquidity sources stepping in to fund operations, "financial and operational viability becomes increasingly uncertain."
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Major Accredited Shareholder Cuts Stake

In a filing with the SEC this morning, Accredited Home Lenders Holding Co. disclosed that a key shareholder has cut bait on the company. Accredited's filing with regulators said that Silver Point Capital cut its passive stake in the subprime mortgage lender to 4.04 percent from 10.29 percent. Silver Point Capital now owns roughly 1.0 million shares, down from the 2.6 million disclosed in a filing dated June 22.
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Lone Star Extends Tender Offer Deadline for Accredited

From Reuters: Private equity firm Lone Star said on Tuesday it is extending its tender offer for outstanding shares of subprime mortgage lender Accredited Home Lenders Holding Co ... to Aug. 28. Lone Star said it had received about 11 million shares, or 43 percent of Accredited Home's common stock, at the close of business on Monday.
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