Higher One Holdings Sets IPO Terms

(Reuters) – Higher One Holdings Inc registered its initial public offering of 14.3 million shares at an estimated price of $15 to $17 per share.

In an amended filing with the U.S. Securities and Exchange Commission, the company said it plans to sell 3.1 million shares, while stockholders will sell an additional 11.1 million shares.

The company provides technology and payment services to the higher education industry.

Higher One Holdings said it expects to receive net proceeds of about $43.5 million from the offering, of which $10.5 million will be used to repay debt.

The New Haven, Connecticut-based company said it applied for a New York Stock Exchange listing under the symbol “ONE.” (Reporting by Suzannah Benjamin in Bangalore; Editing by Aradhaha Aravindan)