Key Developments: Vantiv Inc (VNTV.N)
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Latest Key Developments (Source: Significant Developments)
Vantiv Inc Closes Secondary Offering
Vantiv Inc announced that the closing of the secondary public offering of 40,714,704 shares of its 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, which includes the full exercise of the underwriters' option to purchase up to 2,114,704 additional shares from the Selling Stockholders. The Selling Stockholders received all of the proceeds from the offering. No shares were sold by Vantiv. Full Article
Vantiv Inc Announces Pricing Of Secondary Offering And Repurchase Of Common Stock
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. Full Article
Vantiv Inc Announces Secondary Offering And Repurchase Of Common Stock
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. Full Article
Vantiv Inc Issues FY 2013 Guidance Above Analysts' Estimates
Vantiv Inc announced that for fiscal 2013, it expects to generate net revenue of $1.21 to $1.23 billion, which represents growth of approximately 18% to 20%, and adjusted cash net income per share of $1.46 to $1.50, which represents growth of 20% to 23%. On a GAAP basis, the Company expect to generate earnings per share of $0.60 to $0.63. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.17 billion and EPS of $1.39 for fiscal 2013. Full Article
Vantiv Inc Announces Pricing Of Secondary Public Offering
Vantiv Inc announced the pricing of the secondary public offering of 12,454,545 shares of its Class A common stock by Fifth Third Bank and its affiliate FTPS Partners, LLC at a price to the public of $20.10 per share. In addition, the underwriters will have an option to purchase up to 1,245,455 additional shares from Fifth Third Bank. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by Vantiv. In connection with the offering, Fifth Third Bank and FTPS Partners will be exchanging a portion of their units in Vantiv Holding LLC, a subsidiary of Vantiv, Inc., for the shares of Class A common stock to be sold in the offering. J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the underwriters of the offering. Full Article
Optimal Payments Plc And Vantiv, Inc Announce Processing Agreement
Optimal Payments Plc announced that it has entered into an agreement with Vantiv, Inc. Under the agreement, Optimal will be able to offer its global merchants a sophisticated online payments solution in the U.S. market, enabling these merchants to process online payments via a wide range of payment methods, including Visa and MasterCard. This relationship combines Optimal's expertise in providing international ecommerce and risk management solutions with Vantiv's processing scale, renowned service, and reputation in the U.S. market. Full Article
Vantiv Inc Launches Secondary Public Offering
Vantiv Inc announced that the launch of an underwritten secondary public offering of 12,050,000 shares of its Class A common stock by Fifth Third Bank and its affiliate FTPS Partners, LLC. In addition, the underwriters will have an option to purchase up to 1,200,000 additional shares from Fifth Third Bank. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by Vantiv. J.P. Morgan Securities LLC and Credit Suisse Securities ( USA ) LLC are the underwriters of the offering. Full Article
Vantiv Inc Completes Acquisition of Litle & Co
Vantiv Inc announced that it has completed its acquisition of Litle & Co., an independent eCommerce payment processor, providing a fully-integrated payments solution for companies that sell goods and services to consumers over the internet and through direct response marketing. The combined company will offer merchants a one-stop suite of Point-of-Sale, eCommerce and Direct Response payment processing solutions. Under the terms of the agreement, Vantiv paid $361 million in cash, including $50 million drawn from its existing revolving credit facility. Litle & Co. will operate as a subsidiary of Vantiv, LLC and will maintain its location in Lowell, Massachusetts. Vantiv is headquartered in Cincinnati, Ohio. Full Article
Vantiv Inc Reaffirms FY 2012 Revenue Guidance; Raises Low End Of Prior FY 2012 EPS Guidance To A Range In Line With Analysts' Estimates
Vantiv Inc announced that for fiscal 2012, it continues to expect to generate net revenues of $1.0 billion to $1.02 billion, and the Company is narrowing adjusted cash net income per share guidance to a range between $1.15 and $1.17, from previous estimate of $1.13 to $1.17. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.02 billion and EPS of $1.17 for fiscal 2012. Full Article
Vantiv Inc Announces Agreement to Acquire Litle & Co
Vantiv Inc announced that it has signed an agreement to acquire Litle & Co. for $361 million. Litle & Co. is an independent eCommerce payment processor, providing a fully-integrated payments solution for companies that sell goods and services to consumers over the internet and through direct response marketing. The transaction is expected to close in late 2012. Upon completion, Litle & Co. will become a subsidiary of Vantiv, LLC and will maintain its location in Lowell, Massachusetts. Vantiv is headquartered in Cincinnati, Ohio. J.P. Morgan and Ulmer & Berne acted as financial advisor and legal counsel, respectively to Vantiv, Inc. William Blair & Company and WilmerHale acted as financial advisor and legal counsel, respectively to Litle & Co. Full Article
Vantiv profit rises 46 pct, full-year forecasts exceed estimates
Feb 20 - Payment processor Vantiv Inc's fourth-quarter profit rose 46 percent as it handled more card transactions and the company's full-year revenue and adjusted profit forecasts beat analysts' estimates.
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