TRM Raises Additional Funds Through StockOffer
PORTLAND, Ore. - (09/24/04) -- TRM Corp., which announced a dealearlier this week to buy eFunds' 17,200 ATMs, said Thursday thatthe underwriters of its previously announced public offering ofcommon stock have exercised in full the overallotment option,allowing the company to raise an additional $7 million. As aresult, the company said it raised almost $53 million through theoffering, most of which is expected to help fund the $150 millionprice for the eFunds' machines, the second largest non-bank ownedATM fleet in the country. The remainder of the acquisition pricewill be funded primarily through a syndicated loan facilityunderwritten and arranged by Bank of America. The eFunds machinesmake up almost half the 19,000 ATMs operated by the creditunion-owned CO-OP Network.