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Stockholders to sell shares in ATM ISO
August 18, 2010 - Frederick Lowe
Three shareholders of Cardtronics Inc.’s common stock have announced they will sell some of their holdings in the Houston-based ISO.
CapStreet II, L.P. and CapStreet Parallel II L.P., which are part of Houston-based CapStreet Group, LLC, and TA Associates Inc. will sell a combined 7 million shares of Cardtronics’ common stock at $14 a share to the public. TA Associates is based in Boston. The companies expect to raise approximately $98 million from the sale, which is scheduled to close Aug. 24.
Cardtronics, the world’s largest non-bank owner of ATMs with more than 33,700 machines in the United States, the United Kingdom, the U.S. Virgin Islands, Mexico and Puerto Rico, will not receive any proceeds from the sale, said Joel Antonini, the company’s vice president of marketing
“Our private-equity sponsors are simply selling a portion of their existing investment to the public; the proceeds go to the selling shareholders,” Antonini added.
Cardtronics has 42 million shares of common stock outstanding, he said.
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