CPI Card Group Selling Stockholders Priced $25.2M Secondary Public Offering of 1.2M Shares At $21/Share
Portfolio Pulse from Benzinga Newsdesk
CPI Card Group Inc. announced a secondary public offering of 1.2 million shares at $21 per share, totaling $25.2 million. The offering is by selling stockholders and not the company, which will not receive any proceeds.
October 01, 2024 | 6:58 am
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CPI Card Group's secondary public offering involves 1.2 million shares at $21 each, raising $25.2 million for selling stockholders. The company itself will not receive any proceeds.
The secondary offering involves existing stockholders selling shares, which can lead to a short-term decrease in stock price due to increased supply in the market. The company not receiving proceeds suggests no immediate benefit to its financials.
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