News

TRM files to sell 4.5 million shares

June 23, 2004

PORTLAND, Ore.-A TRM Corp. filing with the Securities and Exchange Commission said the company wants to sell up to 4.5 million shares of its common stock.

According to the Portland Business Journal, the ATM and photocopy machine network operator also proposed an overallotment option be granted to the underwriters for up to an additional 675,000 shares. Friedman Billings Ramsey & Co. Inc. is the lead managing underwriter.

In April, TRM bought two ATM networks, one in the United Kingdom and one in the United States. In June, it purchased Mighty Cash Financial, a Canadian ATM network operator.

The company's stock (Nasdaq: TRMM) is trading at around $12 per share. TRM had 2003 sales of $79.2 million and net income of $5.5 million. It employs about 350 people.