CPI Card Group Prices 15M Share IPO @$10.00/Share

CPI Card Group Inc. today announced the pricing of its initial public offering of 15,000,000 shares of common stock at US$10.00 per share. In addition, certain existing stockholders have granted the underwriters an option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering…CPI Card Group Inc. today announced the pricing of its initial public offering of 15,000,000 shares of common stock at US$10.00 per share. In addition, certain existing stockholders have granted the underwriters an option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering price within 30 days of the offering closing. The offering is expected to close on or about October 15, 2015.The shares of common stock have been approved for listing on the NASDAQ Global Select Market and conditionally approved for listing on the Toronto Stock Exchange under the ticker symbols "PMTS" and "PNT", respectively.The Company expects to receive net proceeds of approximately US$137.5 million from the offering and intends to use such proceeds to redeem the remaining outstanding shares of its preferred stock, to terminate its phantom stock plan and to satisfy all liabilities due thereunder and to repay outstanding indebtedness. BMO Capital Markets, Goldman, Sachs & Co. and CIBC are acting as joint book-running managers for the offering, and Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C, Raymond James Ltd, Scotiabank and GMP Securities L.P. are acting act