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Evertec Inc Announces Pricing of Secondary Public Offering By Apollo Global Management, LLC And Popular, Inc.


Friday, 13 Sep 2013 02:09pm EDT 

Evertec Inc announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock to the public at $22.50 per share by an affiliate of Apollo Global Management, LLC (Apollo), Popular, Inc. (Popular) and certain officers and current and former employees of EVERTEC. Apollo and Popular sold 10,808,759 million and 9,057,000 million shares of EVERTEC, respectively, retaining a stake of 14.9% and 21.3%, respectively. Total cash proceeds received by Popular from the sale of the shares will be approximately $197 million, net of underwriting discounts and commissions. Popular will recognize an after tax gain of approximately $169 million during the third quarter of 2013. The underwriters of the offering will have a 30-day option to purchase up to an additional 3,000,000 shares of common stock from Apollo. The underwriters of the offering will have a 30-day option to purchase up to an additional 3,000,000 shares of common stock from Apollo. 

Company Quote

22.19
0.05 +0.23%
19 Dec 2014