CPI Card Group Inc. announced significant investments by Tricor Pacific Capital Inc. and its Chairman, H. Sanford Riley.
The investments involved the purchase of 2.1 million shares of CPI common stock.
Following the transactions, Parallel49 Equity's ownership in CPI common stock decreased from 42% to 24%.
The Tricor Family Office now holds nearly 20% of CPI's outstanding shares.
The investments demonstrate confidence in CPI's growth prospects and strategy.
Significant Investments
Tricor Pacific Capital and H. Sanford Riley purchased a total of 2.1 million shares of CPI common stock.
Ownership Structure Change
Parallel49 Equity's ownership in CPI common stock reduced from 42% to 24%.
Long-Term Commitment
Tricor Family Office now holds nearly 20% of CPI's outstanding shares, showing a strong commitment to the company.
Support for Growth Strategy
The investments will support CPI's strategy for growth and diversification, including expansion into digital solutions.
Governance and Shareholder Rights
The Board of Directors approved share registration and director nomination rights to the Tricor Family Office.
- The investments signal confidence in CPI's future and growth trajectory.
- Ownership changes highlight shifts in shareholder structure.
- Increased direct ownership by Tricor shows long-term partnership.
- Lock-up agreements indicate commitment to stability.
The investments by Tricor Pacific Capital and H. Sanford Riley, along with governance changes and long-term commitments, position CPI Card Group Inc. for continued growth and value creation in the payments technology sector.