Cardtronics Inc., a Houston, Texas-based operator and distributor of ATM machines, raised $120 million in its IPO. The company priced 12 million shares at $10 per share, after originally having filed to price 16.67 million shares at between $14 and $16 per share. It began trading yesterday on the Nasdaq under ticker symbol CATM, and closed down at $9.80 per share.
Deutsche Bank Securities, William Blair & Co. and Banc of America Securities served 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. www.cardtronics.com