Reuters: Regulatory News: UPDATE 1-Community Choice Financial sees IPO priced at $13-$15/shr

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UPDATE 1-Community Choice Financial sees IPO priced at $13-$15/shr Apr 25th 2012, 11:09 April 25 | Wed Apr 25, 2012 7:09am EDT April 25 (Reuters) - Community Choice Financial Inc said it expects its initial public offering of 10.7 million shares to be priced between $13 and $15 each. The lender, which offers short-term consumer loans, title loans and check cashing services, had filed with the U.S. Securities and Exchange Commission last August to raise up to $230 million. At the mid-point of the price range, Community Choice expects to receive net proceeds of $137.1 million, after underwriting discounts and expenses. It plans to use the proceeds from the offering to fund acquisitions and repay debts. The company, which has a network of 435 retail storefronts across 14 states, has applied to list its shares on the Nasdaq under the symbol "CCFI." Credit Suisse Securities, Jefferies & Co, Stephens Inc, JMP Securities LLC and William Blair & Co are underwriters to the offering.

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