Evertec Inc Announces Pricing Of Initial Public Offering

Thursday, 11 Apr 2013 10:40pm EDT 

Evertec Inc announced the pricing of its initial public offering of 25,263,159 shares of common stock at $20.00 per share. A total of 6,250,000 shares are being offered by EVERTEC, and a total of 19,013,159 shares are being offered by selling stockholders of the Company (of which 10,212,500 shares are being sold by an affiliate of Apollo Global Management, LLC (Apollo) and 8,800,659 shares are being sold by Popular, Inc.). The underwriters of the offering will have a 30-day option to purchase up to an additional 3,789,473 shares of common stock from Apollo at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on April 12, 2013 under the symbol “EVTC.” The offering is expected to close on or about April 17, 2013. The Company expects to receive proceeds from the sale of the 6,250,000 shares, net of underwriters’ discounts and commissions and other estimated expenses, of approximately $117.4 million from the offering and intends to use a substantial portion of the net proceeds of the offering to repay existing indebtedness. EVERTEC will not receive any proceeds from the sale of shares by selling stockholders. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as joint bookrunners for the offering. 

Company Quote

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30 Jan 2015