Business
CPI Card Group Inc. Announces Proposed Secondary Public Offering of 1,000,000 Shares of Common Stock by Majority Stockholder
LITTLETON, Colo.--(BUSINESS WIRE)-- CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payments technology company and leading provider of
About this update from Cpi Card Group Inc.
[{"type":"text","content":" LITTLETON, Colo.--(BUSINESS WIRE)--\nCPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payments technology company and leading provider of credit, debit and prepaid card and digital solutions, including Software-as-a-Service (SaaS) based instant issuance, today announced that certain stockholders affiliated with Parallel49 Equity (the “selling stockholders”) have commenced an underwritten secondary public offering of 1,000,000 shares of the Company’s common stock. In addition, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 150,000 shares of common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.\n\nThe selling stockholders will receive all proceeds from the offering. The Company is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of common stock by the selling stockholders.\n\nD.A. Davidson & Co. is acting as sole book-running manager for the offering.\n\nA registration statement on Form S-3 (File No. 333-259511) relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). The Company has also filed with the SEC a preliminary prospectus supplement and accompanying prospectus for the offering. The offering will be made only by means of a prospectus and prospectus supplement. Copies of the prospectus and preliminary prospectus supplement may be obtained by contacting: D.A. Davidson & Co., Attention: Prospectus Department, 8 Third Street North, Great Falls, MT 59401, by telephone at (800) 332-5915, or by email at [email protected].\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.\n\nAbout CPI Card Group Inc.\n\nCPI Card Group is a payments technology company providing a comprehensive range of credit, debit, and prepaid card and digital solutions, including SaaS based instant issuance. With a focus on build...