UNITED STATES
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):
March 17, 2008

EZCORP, INC.

(Exact name of registrant as specified in its charter)

DELAWARE		0-19424		74-2540145
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1901 CAPITAL PARKWAY AUSTIN, TEXAS (Address of principal executive offices)		78746 (Zip Code)

Registrant’s telephone number, including area code:
(512) 314-3400

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:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 1.01.      ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On March 17, 2008, EZCORP, Inc. issued a press release announcing its agreement to acquire up to 100%, but not less than 70%, of the equity ownership of Value Financial Services, Inc. A copy of the press release is attached hereto as Exhibit 99.1.

ITEM 9.01.      FINANCIAL STATEMENTS AND EXHIBITS

99.1		Press release dated March 17, 2008, issued by EZCORP, Inc.

SIGNATURE

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.

EXHIBIT INDEX

99.1		Press release dated March 17, 2008, issued by EZCORP, Inc.

EXHIBIT 99.1

EZCORP ENTERS AGREEMENT TO ACQUIRE VALUE FINANCIAL SERVICES

AUSTIN, Texas (March 17, 2008) — EZCORP, Inc. (Nasdaq: EZPW) announced today it has entered into an agreement to acquire up to 100%, but not less than 70%, of the equity ownership of Value Financial Services, Inc. On December 31, 2007, Value Financial Services owned and operated 64 pawnshops in Florida, Georgia and Tennessee.

EZCORP’s President and Chief Executive Officer, Joe Rotunda, stated, “We are very excited about this opportunity. Value Financial Services is a quality operation with a pawn portfolio in the order of $17 million and trailing twelve month EBITDA of approximately $14 million as of the end of December. The purchase price will be nearly $100 million, including approximately $73 million in cash to Value Financial Services shareholders, if 100% of the outstanding Value Financial Services shares are sold, and assumption of debt. Closing of the transaction is expected in late May 2008.”

Stephens, Inc. is serving as the financial advisor to Value Financial Services in this transaction.

EZCORP is primarily a lender or provider of credit services to individuals who do not have cash resources or access to credit to meet their short-term cash needs. In 294 U.S. and four Mexico EZPAWN locations and 21 Mister Money Mexico locations open on December 31, 2007, the Company offers non-recourse loans collateralized by tangible personal property, commonly known as pawn loans. At these locations, the Company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value. In 448 EZMONEY locations and 74 EZPAWN locations open on December 31, 2007, the Company offers short-term non-collateralized loans, often referred to as payday loans, or fee based credit services to customers seeking loans.

For additional information, contact Dan Tonissen at (512) 314-2289.

This announcement contains certain forward-looking statements regarding the Company’s expected performance for future periods including, but not limited to, the completion of this acquisition. Actual results for these periods may materially differ from these statements. Such forward-looking statements involve risks and uncertainties such as changing market conditions in the overall economy and the industry, consumer demand for the Company’s services and merchandise, changes in the regulatory environment, and other factors periodically discussed in the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission.