CPI Card Group Inc. - PMTS STOCK NEWS

CPI Card Group (OTCQX: PMTS, TSX: PMTS) has launched Second Wave® cards for instant issuance, made with recovered ocean-bound plastic. This initiative, integrated with the Card@Once® solution, allows financial institutions to provide eco-friendly cards that cater to environmentally-conscious consumers. According to a CPI study, 94% of consumers are worried about ocean plastic, and 87% find ocean-plastic cards appealing. CPI estimates that every million Second Wave cards produced will divert over one ton of plastic from oceans. This eco-focused approach highlights CPI's commitment to sustainability while enhancing cardholder experience.

CPI Card Group (OTCQX: PMTS, TSX: PMTS) has partnered with Unifimoney to offer its innovative Second Wave® cards for the new Unifi Premier credit card. These EMV® compliant cards are made with recovered ocean-bound plastic, appealing to eco-conscious consumers. CPI estimates that producing one million Second Wave® cards diverts over a ton of plastic from oceans. According to a survey, 94% of consumers are concerned about ocean plastic, with many willing to switch institutions for eco-friendly card options. This collaboration reflects CPI's commitment to sustainable practices.

CPI Card Group (OTCQX: PMTS, TSX: PMTS) has launched the Earthwise™ Recycled PVC Card, made with up to 85% upcycled PVC. This new eco-friendly card offers an alternative to virgin PVC and is designed to meet the growing demand for sustainable payment solutions. The card is EMV compliant and supports contactless payments. It is the latest addition to CPI's range of innovative, environmentally-focused products, certified under the ICMA EcoLabel Standard Program. This initiative aims to reduce plastic waste and support a sustainable future.

CPI Card Group Inc. (OTCQX: PMTS; TSX: PMTS) announced the closing of a private offering of $310 million senior secured notes due 2026, featuring an interest rate of 8.625%. The funds will be used to fully repay existing credit facilities, along with additional cash and borrowings from a new secured asset-based revolving credit facility. These notes are secured by the issuer's and certain subsidiaries' assets and sold under Rule 144A of the Securities Act. The offering aimed at qualified institutional buyers and is not registered under the Securities Act.

CPI Card Group Inc. (OTCQX: PMTS; TSX: PMTS) announced the pricing of a $310 million offering of 8.625% senior secured notes due 2026. The offering, scheduled to close on March 15, 2021, aims to refinance existing credit facilities and pay related fees. Net proceeds will be combined with cash and a $50 million revolving credit facility. The notes will be secured by the issuer's assets and guaranteed by the Company and its subsidiaries. The offering targets qualified institutional buyers under Rule 144A and will not be registered under the Securities Act.

CPI Card Group Inc. (OTCQX: PMTS; TSX: PMTS) announced a private offering of $310 million senior secured notes due 2026 through its subsidiary, CPI CG Inc. The proceeds will be used to repay existing credit facilities and cover related expenses. The notes will be secured by the issuer's and guarantors' assets. The offering is subject to market conditions and may not be completed. Investors should note that the notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers.

CPI Card Group has reported robust financial results for Q4 and full year 2020, with net sales increasing 16% to $84.1 million in Q4 and 12% to $312.2 million for the year. Gross profit rose 41% in Q4 and 21% for the year, while net income flipped to $7.3 million in Q4 from a loss in 2019. Adjusted EBITDA surged by 99% in Q4 to $17.5 million. The company remains optimistic about market opportunities, particularly for contactless cards and innovative products. Cash flow improved, with adjusted free cash flow reaching $15 million for the year, bolstering liquidity amidst ongoing challenges.

CPI Card Group (OTCQX: PMTS, TSX: PMTS) announced the milestone of delivering over 25 million Second Wave® payment cards since its launch in 2019. This EMV® compliant card, made from recovered ocean-bound plastic, diverts an estimated 25 tons of plastic from oceans. The company allocates a portion of sales to support communities involved in plastic recovery, contributing to COVID-19 response and educational initiatives. CPI aims to align with environmental goals and enhance corporate responsibility through its innovative product offerings.

CPI Card Group (OTCQX: PMTS, TSX: PMTS) has become the first licensee of the ICMA EcoLabel Standard Program, recognizing its commitment to sustainability in the card manufacturing industry. The program, established by the International Card Manufacturers Association, evaluates eco-friendly payment and identification cards based on measurable criteria. CPI's Second Wave™ and Earthwise™ cards, made from recovered ocean-bound and upcycled plastics, have been certified under this new standard, aiming to meet growing consumer demand for sustainable payment options.