HOUSTON – Cardtronics said its initial public offering last week raised $110.1 million, which the independent operator of ATMs plans to use to pay down existing debt.
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The operator of 30,000 ATMs said its major owners, CapStreet LLP of Houston, and TA Associates of Boston, have granted the underwriters a 30-day option to purchase up to 1.8 million shares at the $10 IPO price. Cardtronics will not receive any proceeds from the sale of those shares.
Cardtronics has emerged as one of the major providers of electronic funds services for credit unions, with connections to the CO-OP, Credit Union 24 and Financial Service Centers Cooperative networks, and through its wholly owned Allpoint surcharge-free ATM network.
