CPI Card slides as PE firm Parallel49 Equity slashes stake
** Shares of payments technology firm CPI Card Group PMTS.O slide 21% to $21.98 premarket
** Private equity firm Parallel49 Equity sold 1.2 mln PMTS shares on Monday at $21/shr, a 24.5% discount to the stock's last close, in a secondary offering by PMTS
** Parallel49 Equity owned ~6.2 mln PMTS shares, or a 55.9% stake, as of July 5 - LSEG data
** As of last close, PMTS had ~11.1 mln shares outstanding and a ~308.3 mln market cap
** D.A. Davidson was the sole manager for the offering
** As of last close, PMTS shares were up 45% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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