Performant Financial sets terms for $150 million US IPO

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Performant Financial, which aids private companies and government agencies recover delinquent and default loans, announced terms for its IPO on Monday. The Livermore, CA-based company plans to raise $150 million by offering 11.5 million shares (83% insider) at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Performant Financial would command a fully diluted market value of $656 million.

Performant Financial, which was founded in 1976 and booked $174 million in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol PFMT. Morgan Stanley, Goldman Sachs, Credit Suisse and Wells Fargo Securities are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: PFMT

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