Green Dot Corporation (NYSE: GDOT), a leading prepaid financial services company, today announced that it has commenced an initial public offering of 3,850,000 shares of its Class A common stock.
All of the shares of Class A common stock are being offered by certain selling stockholders. The estimated price range for the initial public offering is $32.00 to $35.00 per share. Green Dot has been approved to apply to list on the NYSE under the ticker symbol "GDOT". The underwriters have the option to purchase from the selling stockholders up to an additional 577,500 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any.
J.P. Morgan and Morgan Stanley will act as joint book-running managers, and Deutsche Bank Securities, Piper Jaffray & Co. and UBS Securities LLC will serve as co-managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.