NetSpend Holdings, which offers reloadable prepaid debit cards and related financial services, announced terms for its IPO on Monday. The Austin, TX-based company plans to raise $204 million by offering 18.5 million shares at a price range of $10-$12. At the mid-point of the proposed range, NetSpend will command a market value of roughly $1 billion. NetSpend Holdings, which was founded in 1999 and booked $255 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol NTSP. Goldman, Sachs & Co., BofA Merrill Lynch and William Blair are the lead underwriters on the deal, which is expected to price during the week of October 11.
