NetSpend Holdings Inc. on Oct. 19 begins trading on The Nasdaq Stock Market LLC under the ticker symbol “NTSP.” In an announcement Oct. 18, the company priced its initial public offering of 18.5 million shares of common stock at $11 per share.
Of the shares the company is offering, it is selling 2.3 million and certain shareholders are selling 16.2 million. NetSpend in July said it planned to raise $200 million in the initial public offiering (see story).
The underwriters have a 30-day option to purchase up to an additional 2.8 million shares from the selling stockholders. Goldman, Sachs & Co. and BofA Merrill Lynch are acting as book-running managers, William Blair & Co. is acting as lead manager, and SunTrust Robinson Humphrey, Wells Fargo Securities, Duncan-Williams Inc. and Knight/Houlihan Lokey are acting as co-managers for the offering.