EVERTEC Inc. announced Monday the start of an underwritten public offering of 20 million shares of its common stock by an affiliate of Apollo Global Management, LLC, Popular, Inc., and certain officers and current and former company employees.
The underwriters of the offering will have the option to purchase up to an additional 3 million shares of common stock from Apollo. The selling stockholders will receive all of the proceeds from the offering that is expected to close on or about Sept. 18, 2013, the Puerto Rico-based company said in a statement.
Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as joint bookrunners for the offering. William Blair & Company. L.L.C., Apollo Global Securities, LLC and Popular Securities, Inc. are acting as co-managers for the offering.
Prior to announcing the stock sale, EVERTEC also confirmed that Goldman, Sachs & Co. and J.P. Morgan Securities LLC have agreed to waive certain lock-up restrictions applicable to the company and certain common stock shares.
The waiver allows the sale of such shares, subject to carrying out an underwriting agreement and new lock-up agreements in connection with the recently announced proposed offering, EVERTEC said.