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VeriFone offering seeks $64 million: credit-card verification company moves to better investment liquidity.
VeriFone offering seeks $64 million
Credit-card verification company moves to better investment liquidity
REDWOOD CITY -- Facing a market for initial public offerings that has seen more hospitable times, VeriFone Inc. has filed a preliminary prospectus to raise as much as $64.4 million through a stock offering.
In a move designed mostly to create a more liquid investment for its venture capitalists, the 9-year-old financial services computer company will register 4.6 million shares on the public market at an anticipated offering price of $12 to $14 a share. According to a preliminary prospectus filed with the Securities and Exchange Commission, the company hopes to raise $19.6 million through the sale of 1.4 million shares, and existing shareholders will sell 2 million shares for an anticipated $28 million.
Additionally, underwriters Morgan Stanley & Co., Robertson, …
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