CPI Card slides on PE backer's deep-discounted share offload

BRC group

11/09/2026 12:23

** Payments technology firm CPI Card Group's PMTS.O shares down 16.9% to $22.40 premarket on Fri after secondary offering prices
** PMTS announces holders affiliated with private equity firm Parallel49 Equity offloaded ~2.3 mln shares at $21.50 for ~$50.3 mln
** Offering price represents 20.2% discount to stock's last close
** If full overallotment is exercised, Parallel49's holdings would be divested, per the prospectus
** Family office Tricor Pacific Capital, an affiliate of an indirect equity holder of Parallel49, had indicated interest in purchasing approx 550,000 shares in offering 
** Littleton, Colorado-based PMTS has ~11.5 mln shares outstanding
** B. Riley Secs and D.A. Davidson joint bookrunners for offering
** Through Thurs, PMTS stock up 42% over the past three months and ~84% YTD
** All 4 analysts covering the stock rate it "buy"; median PT $33, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))