CPI Card Group Lowers It IPO Issue Price Again

CPI Card Group, a provider of credit and debit cards, has once again lowered its expected initial public offering issue price to $10 Thursday, according to an SEC filing, a day after it had lowered the price target to $12 to $13. In a filing dated Sept. 22, the company had set the range between $16 and $18. The move comes amid a tough IPO climate and a day after enterprise storage company Pure Storage had a bumpy debut on the New York Stock Exchange. CPI Card Group initially filed a prospectus on August 7. With the $10 share price and an offering of 15 million shares, it estimates that the net proceeds from the sale will be $137.5 million.

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