UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): APRIL 5, 2005
CREDIT ACCEPTANCE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Commission File Number 000-20202
MICHIGAN 38-1999511
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
25505 W. TWELVE MILE ROAD, SUITE 3000 48034-8339
SOUTHFIELD, MICHIGAN (Zip Code)
(Address of Principal Executive Offices)
(Registrant's telephone number, including area code): (248) 353-2700
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
/ / Written Communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
/ / Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
/ / Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
/ / Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR
STANDARD; TRANSFER OF LISTING.
On April 11, 2005, Credit Acceptance Corporation (the "Company") issued a press
release announcing that as a result of its inability to timely file its Annual
Report on Form 10-K for the year ended December 31, 2004, the Company is not in
compliance with Marketplace Rule 4310(c)(14), and therefore, its securities are
subject to delisting from the Nasdaq National Market. On April 5, 2005, the
Company received a Nasdaq Staff Determination Letter regarding the potential
delisting of the Company's common stock. The Company has requested a hearing
before a Nasdaq Listing Qualifications Panel to review the Staff Determination.
The Company's common stock will remain listed on Nasdaq pending the outcome of
the hearing. There can be no assurance that the Nasdaq Listing Qualifications
Panel will grant the Company's request for continued listing. The Nasdaq trading
symbol of the Company's common stock was changed from CACC to CACCE on April 7,
2005. On April 8, 2005, the Credit Acceptance Corporation (the "Company") issued
a press release announcing that on April 5, 2005, it received a Nasdaq Staff
Determination Letter regarding the potential delisting of the Company's common
stock. As a result of the Company's inability to timely file its annual report
on Form 10-K for the year ended December 31, 2004, the Company is not in
compliance with Marketplace Rule 4310(c)(14), and therefore, its securities are
subject to delisting from the Nasdaq National Market. The Company has requested
a hearing before a Nasdaq Listing Qualifications Panel to review the Staff
Determination and the Company's common stock will remain listed on Nasdaq
pending the outcome of the hearing. There can be no assurance that the Nasdaq
Listing Qualifications Panel will grant the Company's request for continued
listing. The Nasdaq trading symbol of the Company's common stock was changed
from CACC to CACCE on April 7, 2005.
In the April 8 press release, the Company also announced that its independent
accounting firm has not yet completed its audit of the Company's financial
statements for the year ended December 31, 2004.
The press release, dated April 11, 2005, is attached as Exhibit 99.1 to this
Form 8-K and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated April 11, 2005
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.
CREDIT ACCEPTANCE CORPORATION
(Registrant)
By:\s\ Kenneth S. Booth
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Kenneth S. Booth
Chief Financial Officer
April 11, 2005
INDEX OF EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated April 11, 2005.