PMTS News

In the last week of October, no companies filed for an IPO. October was a difficult month for IPOs: 16 companies went public, pricing an average of 22% below their midpoint. Despite the massive valuation cuts, the average IPO return was just 3.4%, while the return on the S&P 500...read more

Continuing the recent trend, four out of five deals priced below the range. This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more

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...read more

CPI Card Group, the largest US provider of plastic credit and debit cards, again lowered the proposed deal size for its upcoming IPO on Thursday. The Littleton, CO-based company now plans to raise $150 million by offering 15 million shares (all primary) at a price of $10. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting...read more