Vantiv – VNTV – Announces Pricing of Secondary Public Offering
Vantiv, Inc. (NYSE: VNTV) announced the pricing of the secondary public offering of 12,454,545 shares of its Class A common stock by Fifth Third Bank and its affiliate FTPS Partners, LLC at a price to the public of $20.10 per share. In addition, the underwriters will have an option to purchase up to 1,245,455 additional shares from Fifth Third Bank.
The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by Vantiv.
In connection with the offering, Fifth Third Bank and FTPS Partners will be exchanging a portion of their units in Vantiv Holding LLC, a subsidiary of Vantiv, Inc., for the shares of Class A common stock to be sold in the offering.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the underwriters of the offering.
About Vantiv – VNTV
Vantiv (VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv, Inc. (VNTV), formerly Advent-Kong Blocker Corp. is a holding company that conducts its operations through its majority-owned subsidiaries, Vantiv Holding, LLC (Vantiv Holding) and Transactive Ecommerce Solutions Inc. (Transactive). The Company held 50.9% interest in the subsidiaries. The Company operates in two segments: Merchant Services and Financial Institution Services. VNTV provides electronic payment processing services to merchants and financial institutions throughout the United States of America.
The Company markets its services through diverse distribution channels, including a direct sales force, relationships with a range of independent sales organizations (ISOs), merchant banks, value-added resellers and trade associations as well as arrangements with core processors. In December 2012, the Company acquired Litle & Co.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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