CPI Card Group Announces Proposed Secondary Public Offering Of 1M Shares Of Common Stock By Majority Stockholder
Portfolio Pulse from Benzinga Newsdesk
CPI Card Group Inc. (NASDAQ:PMTS) announced a secondary public offering of 1 million shares by its majority stockholder, Parallel49 Equity. The company will not receive any proceeds from this offering.
September 30, 2024 | 8:10 pm
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CPI Card Group's majority stockholder, Parallel49 Equity, is selling 1 million shares in a secondary public offering. The company itself will not receive any proceeds from this sale.
The sale of shares by a majority stockholder can lead to a short-term decrease in stock price due to increased supply in the market. Since the company is not receiving any proceeds, there is no direct financial benefit to CPI Card Group from this offering.
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IMPORTANCE 70
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