CPI Card Group in share repurchase pact with majority shareholder Parallel49

CPI Card Group announced that it has entered into an agreement to purchase shares of the Company’s common stock from Tricor Pacific Capital Partners US, LP, a fund managed by Parallel49 Equity under the Company’s previously announced $20M share repurchase authorization. Pursuant to the agreement, the Company has agreed to purchase from Parallel49, and Parallel49 has agreed to sell to the Company, a number of shares equal to three times the number of shares acquired by the Company in the open market from non-Parallel49 holders from time to time during the period December 11, 2023 through March 31 , up to a maximum of 325,000 shares. The purchase price for the shares to be acquired from Parallel49 will be equivalent to 98% of the volume weighted average purchase price of shares bought by the Company in the open market from non-Parallel49 holders during that time period, with settlement occurring within five days of the end of the period. The agreement has been approved by the Audit Committee of the Board of Directors of the Company.