Wednesday, June 9, 2010
Walmart Stake In Green Dot Most Likely Worth $71.2M
A regulatory filing today from Monrovia, California-based prepaid debit card provider Green Dot indicates that the firm recently issued $71.18M in its stock, as part of a commercial agreement--most likely part of the stock recently issued to retail giant Walmart, as part of a renewed distribution deal in May. Green Dot had revealed through an S-1 filing earlier this month that it had issued 2,208,552 shares of its common stock to Walmart as part of a renewed distribution deal with Walmart, its biggest channel. In an regulatory filing by the firm today, it said it issued $71.18M in its common stock to a single, unnamed firm as part of a "commercial agreement", which did not involve any cash. The filing did not name Walmart as the recipient of the stock grant. Green Dot is in the midst of an IPO effort.