04:43 PM EDT, 09/30/2024 (MT Newswires) -- CPI Card Group ( PMTS ) said Monday that certain shareholders associated with Parallel49 Equity started an underwritten secondary public offering of 1 million shares.

The selling shareholders expect to grant underwriters a 30-day option to buy up to an additional 150,000 common shares, according to the company.

CPI said it will not receive any proceeds from the offering.

The company's shares fell more than 8% in after-hours activity.

Price: 25.48, Change: -2.35, Percent Change: -8.44