peHUB » VC-Backed IPO Pipeline Springs A Leak
Green Dot Corp., a Monrovia, Calif.-based seller of prepaid debit cards, has set its IPO terms to 3.85 million common shares being offered at between $32 and $35 per share. It plans to trade on the NYSE under ticker symbol GDOT, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters.
Green Dot posted total operating revenue of $66.3 million for 2009, up 26% from a year earlier. Net income rose 78.5% to $10.4 million.
Company shareholders include Sequoia Capital (31.9% pre-IPO stake) and Total Technology Partners (10.8%).
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