Digital Transactions – 10/16/15: Add TransFirst Holdings Inc. to the growing roster of payments companies turning to the publicly traded stock markets to raise cash. The big merchant acquirer late Friday announced it filed an S-1 registration statement with the U.S. Securities and Exchange Commission for an initial public offering of stock. The filing, a necessary early step in the IPO process, does not list how many shares will be sold. The filing lists expected proceeds of $100 million, but that figure is a placeholder for calculating fees and is likely to change.
Hauppauge, N.Y.-based TransFirst plans to use most of the proceeds to pay down all of its outstanding debt and related fees. TransFirst listed outstanding long-term debt at $1.14 billion as of June 30. TransFirst executives were not available for comment. TransFirst’s timing of its IPO is intriguing given the number of payments companies with IPO announcements, says Kurt Strawhecker, managing partner of Omaha, Neb.-based The Strawhecker Group, a payments advisory firm. “The list includes Worldpay, First Data and Square,” Strawhecker says via email. “This would appear to indicate the overall strength and continued growth potential of the payments industry—especially in the face of a few other IPOs so far this calendar year.”
Click here to read more:

Subscribe to the comments for this post?

Share this on Facebook

Share this on LinkedIn

Email this to a friend?

Share this on

Add this to Google Reader

Share this on Technorati

Seed this on Newsvine

Share this on Blinklist

Share this on FriendFeed

Add this to Google Bookmarks

Post on Google Buzz

Post this to MySpace

Share this on Plaxo

Submit this story to Propeller

Add to a lense on Squidoo

Stumble upon something good? Share it on StumbleUpon

Share this on Tumblr

Buzz up!

Leave a Reply

Your email address will not be published.