Advance America, an operator of payday cash advance centers in 34 states in the US, released pricing terms for its upcoming IPO on Monday. A total of 21.5 million shares will be sold in the offering, including 7.2 million by selling shareholders, with a price range of $13 to $15 per share. If the deal prices at the midpoint of its range, Advance America would have an initial market cap of $1.2 billion. Morgan Stanley is lead manager on the deal. Timing on the deal has not been announced.
