offering of 3.75 million common shares priced at $13 each. The offering was led by PaineWebber Inc. The offering size was reduced from the originally planned four million shares, which the company expected to be priced at between $13 and $15 per share. Imperial Credit Mortgage's stock will be traded on the American Stock Exchange.
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The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables.