Planet Payment, Inc. Files Registration Statement for Proposed Initial Public Offering
Long Beach, NY, July 21, 2011 -- Planet Payment, Inc. (LSE AIM: PPT & PPTR; OTCQX: PLPM), a leading international payment and data processor, announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock in the United States. We expect that a portion of the shares will be issued and sold by Planet Payment, Inc. and a portion will be sold by certain stockholders of Planet Payment, Inc.
The joint book-running managers of the proposed offering will be J.P. Morgan, William Blair & Company and Jeffries & Company. Oppenheimer & Co. will be acting as co-manager. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained by contacting:
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Telephone: 866-803-9204;
- William Blair & Company, L.L.C., Attn: Prospectus Department, 222 West Adams Street, Chicago, IL 60606; Telephone: 800-621-0687; or
- Jefferies & Company, Inc., Equity Syndicate Middle Office, Attn: Stephen M. Ficara, 520 Madison Avenue, 12th Floor, New York, NY 10022; Telephone: 212-284-3418.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Planet Payment, Inc.’s common stock will continue to be traded on AIM. We expect that following the effective date of the registration statement, the PPTR line will eventually be combined with the PPT line and all shares in AIM will trade in one line.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Enquiries to:
Planet Payment, Inc.
Graham Arad, SVP and General Counsel
Tel: +1 516 670 3200
www.planetpayment.com
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