Akerman represented B. Riley Securities and D.A. Davidson & Co. in the registered underwritten secondary public offering of common stock of CPI Card Group Inc. (Nasdaq: PMTS) by certain stockholders. The aggregate size of the offering was 2,687,921 shares of the company’s common stock, including 350,598 shares sold pursuant to full exercise of the underwriters’ option to purchase additional shares, at the public offering price of $21.50 per share.
Total gross proceeds from the offering to the selling stockholders, before deducting the underwriting discount and other estimated offering expenses, including the exercise of the underwriters’ option to purchase additional shares, were approximately $57.8 million.
B. Riley Securities and D.A. Davidson & Co. acted as joint book-running managers for the offering. Lake Street Capital Markets acted as co-manager for the offering.
The Akerman team advising B. Riley Securities and D.A. Davidson & Co. was led by Corporate Practice Group Co-Chair Christina C. Russo, Corporate Practice Group Partner Tara A. Jackson, and Corporate Practice Group Associates Amanda C. Rementeria and Arielle Flamenbaum, and included key support across the firm’s national platform from:
- Christy S. Hawkins, Partner, Consumer Financial Services, Data and Technology (CFS+) Practice Group
- Robert Loewy, Partner, Tax Practice Group
- Esther L. Moreno, Chair, Capital Markets Practice
- Ryan Roman, Partner, Litigation Practice Group
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