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FT Partners Represents VeriFone as IPO Advisor in Best Performing IPO in the First Half of 2005

Overview of Transaction
  • On April 28, 2005 Verifone completed a $177 mm offering consisting of 55% primary shares and 45% secondary shares and trades under the symbol "PAY"
  • GTCR Golder Rauner, LLC, a Chicago- based private equity firm with over $6 bn in capital under management, is the majority shareholder in VeriFone with pre-IPO ownership of 68%
  • Proceeds of the transaction were used to extinguish VeriFone's $72 mm second lien loan, provide for working capital needs and pay transaction related expenses
  • VeriFone started trading on the NYSE on April 29, 2005 under the ticker symbol "PAY"
Significance of Transaction
  • VeriFone's IPO is one of the most notable financial technology transactions in 2005
  • VeriFone's IPO was the third best performing IPO in any sector in 2005, ending the year up 170% from the IPO price
  • Award winning transaction recognized as Computer and IT Deal of the Year by the M&A Advisor
FT Partners' Role
  • FT Partners is VeriFone's ongoing lead provider of strategic, financial and M&A advice, globally (see write up in Institutional Investor magazine)
  • FT Partners served as independent IPO Advisor to VeriFone
  • FTP managed the entire IPO process prior to selection of underwriters and acted as "inside advisor" to VeriFone's CEO and Board of Directors throughout the entire process
  • Prepared initial draft of S-1 and other required documentation
  • Created detailed projection model from scratch
  • Participated in underwriter selection process
  • Created detailed management presentations for meetings with potential underwriters
  • Prepared and coordinated due diligence sessions for underwriters
  • Offered capital markets, peer analysis, valuation and numerous other advisory services
  • FT Partners' strong relationship with VeriFone, deep industry knowledge and execution experience resulted in a highly efficient and successful IPO process for the Company
  • FT Partners also advised VeriFone on its $292 mm recapitalization in 2004 and its $15 mm acquisition of Go Software in 2005
  • FT Partners was awarded Computer and Information Technology Deal of the Year by The M&A Advisor for its role in this transaction