CPI Card Group, the largest US provider of plastic credit and debit cards, raised $150 million by offering 15 million shares (all primary) at $10, as anticipated by a filing on Thursday afternoon. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting the deal size on Wednesday to 16 million shares (24% from insiders) at $12-$13. BMO Capital Markets, Goldman Sachs and CIBC were the joint bookrunners on the deal.
