Reuters: Regulatory News: UPDATE 1-Performant Financial files for IPO of up to $150 mln

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Performant Financial files for IPO of up to $150 mln Jul 3rd 2012, 20:38 Tue Jul 3, 2012 4:38pm EDT * Morgan Stanley, Goldman Sachs among underwriters * To list common stock on the Nasdaq under the symbol "PFMT" July 3 (Reuters) - Performant Financial Corp, which helps government agencies and private companies recover delinquent loans, filed with U.S. regulators on Tuesday to raise up to $150 million in an initial public offering of common stock. The company told the U.S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Goldman Sachs, Credit Suisse and Suntrust Robinson Humphrey were among the underwriters to the IPO. Livermore, California-based Performant provides technology-enabled recovery services to help government and private clients identify and recover delinquent assets. The company said it provided recovery services on about $8.7 billion of combined student loans and other delinquent federal and state receivables in 2011. The company, which provides its services on an outsourced basis, intends to list its common stock on the Nasdaq under the symbol "PFMT". The filing did not reveal how many shares the company planned to sell or their expected price. Performant, which is backed by private equity firm Parthenon Capital Partners, earned $2.5 million on revenue of $45.9 million for the quarter ended March 31. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions