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Vantiv Inc Announces Secondary Offering And Repurchase Of Common Stock

Monday, 6 May 2013 04:51pm EDT 

Vantiv Inc announced that an underwritten secondary offering (the Offering) of 38,600,000 shares of its Class A common stock by funds managed by Advent International Corporation and Fifth Third Bank (the Selling Stockholders) pursuant to Vantiv's shelf registration statement filed with the Securities and Exchange Commission . The underwriters of the Offering will have an option to purchase up to 2,082,000 additional shares from the Selling Stockholders. In addition, Vantiv announced that it has entered into a share repurchase agreement with the underwriters of the Offering, subject to the completion of the Offering and the Debt Refinancing pursuant to which it intends to repurchase 17,780,000 of the 38,600,000 shares of its Class A common stock that are being sold by the Selling Stockholders in the offering at a price per share equal to the price per share being paid by the underwriters to the Selling Stockholders in the Offering, provided that to the extent the aggregate purchase price for the shares to be repurchased by Vantiv from the underwriters exceeds $400 million. J.P. Morgan Securities LLC, Credit Suisse Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the Offering. SunTrust Robinson Humphrey, Inc., Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc. are acting as co-managers of the Offering. 

Company Quote

-0.13 -0.42%
3:50pm EDT