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NetSpend Sets IPO Terms

Austin-based NetSpend, a provider of prepaid debit cards, has set the terms of its IPO, saying in a filing today that it will offer up 2,272,727 at between $10.00 and $12.00 per share. The firm has applied to list on the Nasdaq Stock Market as NTSP. NetSpend's IPO is being underwritten by Goldman, Sachs & Co., BofA Merrill Lynch, William Blair & Company, SunTrust Robinson Humphrey, Wells Fargo Securities, Duncan-Williams, Inc., and Knight/Houlihan Lokey. The firm is backed by Oak Investment Partners, JLL Partners, Millennium Finance Co., Texas Growth Fund, among others.