Green Dot Follow-On Offering for $100M

By Andrew Johnson

Published November 09, 2010, 6:33 p.m. EST

|

Updated November 09, 2010, 5:33 p.m. EST

1 Min Read

Green Dot Corp. investors plan to sell $100 million worth of their shares in the prepaid debit card company through a follow-on public offering.

Processing Content

The Monrovia, Calif., company, which sells Visa Inc.- and MasterCard Inc.-branded reloadable cards, will not retain any of the sale proceeds, it said in a Securities and Exchange Commission filing on Monday. Green Dot declined to comment Tuesday about the filing, citing an SEC quiet period surrounding the offering.

In July Green Dot completed an initial public offering that raised $164.1 million. It retained none of the proceeds from that offering either because all shares were sold by existing investors.

Andrew Johnson covers technology and payments systems for American Banker. He focuses on mobile services, card processing and what the emergence of... Read full bio

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Artificial intelligence

AI agents are going rogue. Here's what banks can do about it

Autonomous large language models sometimes do things they absolutely should not, such as suddenly go off and mine cryptocurrency. Here's what AI-forward banks can do about this problem.

By Penny Crosman
Executive Editor, Technology at Arizent

1h ago
Secondary markets

FHA's Cassidy on leave, Ginnie Mae's Gormley filling in

The president of an affiliate mortgage securitization guarantor is taking on the responsibilities associated with the Federal Housing Administration role.

By Bonnie Sinnock
Capital Markets Editor

2h ago
Digital Assets

Exclusive: HSBC extends tokenized deposit service to US

The move is the first cog in a wider plan to make tokenized deposits more interoperable across borders and, eventually, among the bank's clients.

By Joey Pizzolato
Reporter

4h ago
Earnings

Goldman surges past expectations, despite global tumult

Earnings per share and net income for the New York megabank both surpassed analysts' estimates in the first quarter, despite the ongoing war in the Middle East and rising inflation.

By Nathan Place
National Reporter

6h ago
Politics and policy

ICBA outlines wins, concerns in housing policy push

Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.

By Bonnie Sinnock
Capital Markets Editor

9h ago
Federal Reserve

Former Fed official argues against Fed independence

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

By John Heltman
Washington Bureau Chief

April 10

Load More