Cardtronics Lowers IPO Size

Cardtronics Inc., a Houston, Texas-based operator and distributor of ATM machines, has cut its IPO terms from 16.67 million common shares being offered at between $14 and $16 per share, to 12 million shares being offered at between $10 and $11 per share.


The company plans to trade on the Nasdaq under ticker symbol CATM. Deutsche Bank Securities, William Blair & Co. and Banc of America Securities are serving as co-lead underwriters.


CardTronics previously filed for an IPO in 2004, but later withdrew the offering. Soon after, it raised $75 million in new funding from TA Associates, which was used for both working capital and to provide some liquidity to majority shareholder CapStreet Group LLC. The new IPO filing lists CapStreet as having a 37.5% ownership position, with TA holding a 29.5% position.