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NetSpend launches IPO

04 October 2010  |  3477 views  |  0 Source: NetSpend

NetSpend Holdings today announced that it has launched its initial public offering of 18,527,745 shares of common stock.

Of the shares being offered, 2,272,727 shares are being sold by the company and 16,255,018 shares are being sold by certain stockholders. The initial public offering price is expected to be between $10 and $12 per share.

NetSpend has applied to list the common stock on the Nasdaq Stock Market, LLC under the ticker symbol "NTSP". The selling stockholders intend to grant the underwriters an option to purchase an additional 2,779,162 shares.

Goldman, Sachs & Co. and BofA Merrill Lynch will act as book-running managers, William Blair & Company will act as lead manager, and SunTrust Robinson Humphrey, Wells Fargo Securities, Duncan-Williams, Inc., and Knight/Houlihan Lokey will act 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 release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. 

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