Parallel49 Equity launches secondary offering of CPI Card Group shares

DENVER - Affiliated stockholders of Parallel49 Equity have initiated an underwritten secondary public offering of 2.34 million shares of CPI Card Group Inc. (NASDAQ:PMTS), as reported in a press release. The selling stockholders have granted underwriters a 30-day option to acquire up to an additional 350,598 shares of the company's common stock.

The offering is contingent upon market conditions and has no guarantee of completion, timing, size, or final terms. CPI Card Group, a payments technology firm offering physical and digital payment solutions, will not participate in the transaction and will not receive any proceeds. All funds raised will be distributed to the selling stockholders.

Real-time insights into the potential impact of the secondary offering on the company's fundamentals are available through InvestingPro, which offers comprehensive financial metrics and valuation analysis. B. Riley Securities and D.A. Davidson & Co. are jointly managing the offering. The company has submitted a Form S-3 registration statement (File No. 333-259511) to the U.S. Securities and Exchange Commission, which has been approved.

A preliminary prospectus supplement and the main prospectus have also been submitted to the SEC. This report was generated using AI assistance and reviewed by an editor. For additional details, please refer to the provided terms and conditions.