CPI Card Group stock dropped 16.3% following a secondary offering announcement from Parallel49 Equity, which is selling shares at a 20% discount to yesterday's closing price.
CPI Card Group stock crashed 16.3% after major shareholder Parallel49 Equity announced a secondary offering of up to 2.7 million shares at $21.50, a 20% discount to the prior close.
CPI Card Group shares tumbled 16.3% after major shareholder Parallel49 Equity announced a secondary offering of up to 2.7 million shares. The stock is being priced at $21.50, representing a 20% discount to the previous closing price, as the private equity firm moves to exit its long-term position.
The stock fell due to a secondary offering announcement by major shareholder Parallel49 Equity, which is selling shares at a 20% discount to the previous day's closing price.