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CPI Card Group Shares Drop 14% on Secondary Offering

By Stocks Desk · 2026-09-12 · 1 min read
A stack of plastic payment cards resting on a wooden desk surface
Illustration: Tradingbird

CPI Card Group shares fell 14.37% in after-hours trading following the announcement of a secondary public offering by major stockholders.

CPI Card Group Inc. (NASDAQ:PMTS) shares declined 14.37% to $23.07 in after-hours trading on Thursday. The sharp drop occurred after the payments technology company disclosed that stockholders affiliated with Parallel49 Equity have initiated an underwritten secondary public offering. This move follows a regular session where the stock already closed down 4.64% at $26.94, according to data cited by GN stocks/shares-fall.

The offering involves the sale of 2.34 million shares of CPI Card Group common stock. Underwriters have been granted a 30-day option to purchase an additional 350,598 shares if market conditions permit. The transaction is subject to various market factors, and there is no guarantee regarding the timing or completion of the sale. The company emphasized that it is not issuing new shares and will not receive any proceeds from this transaction.

Proceeds Go To Selling Stockholders

All proceeds from the sale of the 2.34 million shares will be distributed to the selling stockholders. CPI Card Group is not participating in the capital raise and will not retain any funds from the offering. B. Riley Securities and D.A. Davidson & Co. are serving as joint book-running managers for the deal. The registration statement on Form S-3 has been declared effective by the U.S. Securities and Exchange Commission, and a preliminary prospectus supplement has been filed.

Market Context And Recent Performance

CPI Card Group currently has a market capitalization of $310.64 million. The stock has experienced significant volatility over the past year, with a 52-week high of $31.25 and a low of $10.87. Despite the recent after-hours decline, the shares remain up 77.35% over the trailing twelve months. The company provides physical and digital payment solutions to its customers.

Offering Terms And Regulatory Filings

The secondary offering is contingent on prevailing market conditions. The underwriters hold the right to purchase additional shares within 30 days of the initial sale. The company has completed the necessary regulatory filings, including the effective Form S-3 registration statement. Investors should note that the offering's completion is not assured and depends on market reception and underwriter discretion.

Based on reporting by TradingView, compiled by the Tradingbird desk.

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