CPI Card Group enters stock repurchase agreement with major shareholder Parallel49 for up to 325K shares

CPI Card Group Inc.

CPI agrees to buy up to 325,000 shares from Parallel49 at 98% of open-market VWAP through March 31, 2024.
Parallel49 will sell three times the number of shares CPI repurchases in the open market from other holders.
The repurchase is part of CPI's existing $20M board-authorized share repurchase program.
Parallel49 also gets an option to sell shares at the same terms if CPI does a privately negotiated repurchase.
The independent audit committee approved the agreement; shares repurchased will be cancelled.

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