CPI Card Group Closes Secondary Offering of 2,687,921 Shares at $21.50

Business Wire··US·Read original
2▲0 ▼0Impact / 5
Summary · why it matters

CPI Card Group Inc. has closed its previously announced registered underwritten secondary public offering of common stock sold by certain stockholders affiliated with Parallel49 Equity. The offering totaled 2,687,921 shares at a public offering price of $21.50 per share, a figure that includes 350,598 shares sold under the underwriters' full exercise of their overallotment option. Gross proceeds to the selling stockholders came to approximately $57.8 million before deducting the underwriting discount and other estimated offering expenses, and CPI itself received no proceeds from the share sales. B. Riley Securities and D.A. Davidson & Co. served as joint book-running managers, with Lake Street Capital Markets as co-manager. Freshfields US LLP advised CPI, DLA Piper LLP advised the selling stockholders and Akerman LLP advised the underwriters.

Impact on assets 3

Aging Population▲
Digital Finance & Tokenization▲
CPI Card Group Inc
PMTS
± MixedCapitalrelevance

Secondary offering of 2.69M shares by Parallel49 Equity affiliates at $21.50; CPI received no proceeds, so impact is neutral/mixed for the company.

Off-coverage companies 3

DLA Piper LLPi
Private± Mixedrelevance

Freshfields Bruckhaus Deringeri
Private± Mixedrelevance

Parallel49 Equityi
Private± Mixedrelevance