Community Choice Financial IPO watch: According to the data of NASDAQ, Community Choice Financial will probably see its IPO (initial public offering) coming in on May 7th, 2012. The Community Choice Financial IPO price is expected to be between $13.00 and $15.00 per share. The company will sell 10.67 million common shares in the public offering. These shares will be traded on the Nasdaq Global Market under the symbol “CCFI”. The net proceeds from the sales of common shares in the Community Choice Financial IPO are expected to reach approximately $137.1 million. These net proceeds will be used to fund acquisitions, pay a termination fee and for general corporate purposes.
Credit Suisse Securities (USA) LLC is acting as the representative of the underwriters. Jefferies & Company, Stephens, JMP Securities and William Blair & Company are working as deputy underwriters of the Community Choice IPO. The underwriters may buy up to 1,600,000 additional shares at the Community Choice IPO price to cover over-allotments.
Community Choice Financial Inc was formed on April 6, 2011. The company is primarily engaged in the business of providing consumer retail financial services. As of December 31, 2011, the company had owned and operated 435 stores in 14 states. Community Choice Financial generated revenues of $202.68 million, $224.28 million and $306.93 million for the year ended Dcember 31, 2009, 2010 and 2011, respectively. Net incomes over the same period were $24.64 million, $31.23 million and $16.85 million, representing profit margins of 12.2%, 13.9% and 5.5%, respectively.
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Community Choice Financial IPO