Parallel49 Equity Sells CPI Card Group Stake for $54.9 Million

Parallel49 Equity has divested its stake in CPI Card Group (NASDAQ: PMTS). The firm sold 2.7 million shares in a secondary public offering, ending its tenure as a major shareholder and board participant.

The transaction closed on September 14, 2026, as the private equity group disposed of its entire position in the payment technology company. This sale changes the ownership structure of CPI Card Group, a company that has experienced fluctuating performance metrics during the 2026 fiscal year.

Transaction Details and Underwriting

The shares were sold to underwriters at $20.43 per share for a total value of approximately $54.9 million. The underwriters subsequently offered the shares to the public at $21.50 per share.

The divestment involved two entities managed by Parallel49 Equity: Tricor Pacific Capital Partners (Fund IV), LP and Tricor Pacific Capital Partners (Fund IV) US, LP. According to a report from Investing.com, both funds now hold zero shares of the company. This ends the firm's status as a 10% owner and director.

CPI Card Group Financial Performance

This exit follows mixed financial results for CPI Card Group. In its second-quarter 2026 earnings report, the company generated $149.2 million in revenue, which surpassed analyst estimates of $143.9 million. The company faced profitability challenges, reporting earnings per share (EPS) of $0.17 against a $0.53 forecast.

What This Means for Shareholders

For investors, the departure of a long-term private equity stakeholder signals a transition toward a more widely held public stock. The secondary offering allows for an orderly exit of a large block of shares, but it also removes the oversight previously provided by Parallel49 Equity's board representation. The market will monitor how the company manages operational costs and earnings growth during the remainder of the fiscal year without its former major investor.