Cardtronics, Inc. (Nasdaq:CATM), the world's largest operator of ATMs, today announced the pricing of its initial public offering of 12,000,000 shares of its common stock at a price of $10.00 per share, before underwriting discounts and commissions.
The shares will begin trading on The NASDAQ Global Market tomorrow, December 11, under the ticker symbol "CATM". Certain stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the initial public offering price less the underwriting discount to cover over-allotments.
Cardtronics expects to receive net proceeds of approximately $110.1 million from the offering and intends to use the net proceeds to pay down existing debt. Cardtronics will not receive any proceeds from the sale of common stock by the selling stockholders in the event the over-allotment option is exercised.
Deutsche Bank Securities Inc., William Blair & Company, L.L.C. and Banc of America Securities LLC are acting as joint book-running managers of the offering. J.P. Morgan Securities, Inc., Piper Jaffray & Co. and RBC Capital Markets Corporation are acting as co-managers of the offering.