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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 5, 1996
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RAC FINANCIAL GROUP, INC.
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(Exact name of registrant as specified in its charter)
TEXAS 0-27550 75-2561052
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification No.)
1250 W. MOCKINGBIRD, DALLAS, TEXAS 75247
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 630-6006
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(NOT APPLICABLE)
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
The Registrant files herewith the exhibit listed in Item 7(c) below.
ITEM 7(c). EXHIBITS
The following exhibit is furnished in accordance with Item 601 of
Regulation S-K.
99 Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RAC FINANCIAL GROUP, INC.
(Registrant)
Date: August 12, 1996 By: /s/ Cinda Knight
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Cinda Knight
Senior Vice President and
Controller
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INDEX TO EXHIBITS
EXHIBIT SEQUENTIALLY
NO. EXHIBIT NUMBERED PAGE
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99 Press Release
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CONTACT: Daniel T. Phillips, President & CEO
Eric C. Green, Chief Financial Officer
RAC Financial Group, Inc.
(214) 630-6006
FOR IMMEDIATE RELEASE
Michele Katz, Jeffrey Luth, Jason Langer
Press: Brian Maddox/Erika Brown
Morgen-Walke Associates
(212) 850-5600
RAC FINANCIAL ANNOUNCES OFFERING OF CONVERTIBLE
SUBORDINATED NOTES
DALLAS, TX, August 5, 1996 -- RAC Financial Group, Inc. (Nasdaq: RACF) today
announced that it is proposing to make a private offering of $100 million
aggregate principal amount of convertible subordinated notes due 2003 to certain
qualified institutional buyers, plus up to an additional $15 million of notes to
cover over-allotments. The notes will be convertible into Common stock at a
fixed conversion price per share to be determined, subject to adjustment in
certain circumstances. The notes will be redeemable by the Company at declining
redemption prices.
The purpose of the offering is to refinance outstanding indebtedness and to
finance the Company's expansion plans. Offers will be made only by means of a
confidential offering memorandum.
The convertible subordinated notes to be offered by the Company in the
private placement have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent such
registration or an applicable exemption from the registration requirements.
RAC Financial Group, Inc., doing business as FIRSTPLUS FINANCIAL, Inc. is a
specialized consumer finance company that originates, purchases, services and
sells consumer finance receivables, primarily home improvement loans secured by
liens on the improved property. The Company is headquartered in Dallas, with
regional offices in California, Colorado, Florida, Georgia, Illinois, New
Jersey, North Carolina, South Carolina, Texas and Washington.
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