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Vantiv Inc Announces Pricing Of Secondary Offering And Repurchase Of Common Stock


Tuesday, 7 May 2013 08:44pm EDT 

Vantiv Inc announced the pricing of the secondary public offering of 38,600,000 shares of Class A common stock by funds managed by Advent International Corporation and Fifth Third Bank (the Selling Stockholders) at a price to the public of $23.75 per share. In addition, the underwriters will have an option to purchase up to 2,114,704 additional shares from the Selling Stockholders. The Selling Stockholders will receive all of the proceeds from the offering. No shares are being sold by Vantiv. Vantiv entered into a share repurchase agreement with the underwriters of the offering, subject to the completion of the offering and the Debt Refinancing (as defined below), pursuant to which it intends to repurchase 17,452,958 of the 38,600,000 shares of 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. Vantiv expects to fund the share repurchase with borrowings under new senior secured credit facilities with increased term loan capacity, which it expects to enter into concurrently with the closing of the offering. The share repurchase is subject to a number of conditions, and there can be no assurance that such conditions will occur or that the share repurchase will be completed on the contemplated terms or at all. 

Company Quote

33.62
0.36 +1.08%
25 Nov 2014