CPI Card Group Inc. (NASDAQ: PMTS) announced a secondary public offering of 2,337,323 shares of common stock by stockholders affiliated with Parallel49 Equity, with B. Riley Securities and D.A. Davidson & Co. serving as joint book-running managers.
Underwriters have been granted a 30-day option to purchase up to an additional 350,598 shares.
CPI Card Group will not offer any shares in the transaction and will not receive any proceeds from the sale; all proceeds will go entirely to the selling stockholders. The offering is subject to market conditions, with no assurance regarding its completion, timing, size, or final terms, according to the filing.
A registration statement on Form S-3 (File No. 333-259511) was filed with the U.S. Securities and Exchange Commission and has been declared effective. A preliminary prospectus supplement and accompanying prospectus were also filed with the SEC.
