Desktop plastic card systems provider Fargo Electronics Inc. says it intends to offer for sale more than 3 million shares of its common stock in an undwritten public offering. The company filed a preliminary prospectus supplement to its previously effective shelf registration statement for this proposed offering.
Fargo says it anticipates it will begin the offering during the week of June 24, subject to market conditions.
Of the approximate 3,865,000 shares to be offered, selling stockholders are offering 2,915,000 shares; the company is offering 950,000 shares. The selling stockholders for this proposed offering include TA Associates and St. Paul Venture Capital, two of the company’s largest stockholders. Fargo says it will not receive any proceeds from the sales of shares by the selling stockholders.
