Evo Payments, which provides payment processing services to merchants and financial institutions, announced terms for its IPO on Thursday.
The Atlanta, GA-based company plans to raise $210 million by offering 14 million shares (5% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Evo Payments would command a fully diluted market value of $1.2 billion.
Evo Payments was founded in 1989 and booked $523 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol EVOP. J.P. Morgan, BofA Merrill Lynch, Citi, Deutsche Bank and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of May 21, 2018.
