Higher One Commences Initial Public Offering

Jun 02, 2010, 13:00 ET from Higher One Holdings, Inc.

NEW HAVEN, Conn., June 2 /PRNewswire-FirstCall/ -- Higher One Holdings, Inc. ("Higher One") announced today that it has launched its initial public offering of 14,250,000 shares of common stock.  Of the shares being offered, 3,103,822 shares are being sold by the company and 11,146,178 shares are being sold by certain stockholders.  The initial public offering price is expected to be between $15.00 and $17.00 per share.

Higher One intends to list the common stock on The New York Stock Exchange under the ticker symbol "ONE".  The company and the selling stockholders have granted the underwriters an option to purchase an additional 2,137,500 shares.

Goldman, Sachs & Co. will act as sole book-running manager, UBS Securities LLC will act as lead manager, and Piper Jaffray & Co., Raymond James & Associates, Inc., William Blair & Company, L.L.C. and JMP Securities LLC will act as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.  This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus.  Copies of the preliminary prospectus related to the offering may be obtained from the prospectus department of:

Goldman, Sachs & Co.

85 Broad Street

New York, NY 10004

Attn: Prospectus Department

(212) 902-1171

(866) 471-2526 (toll-free)

(212) 902-9316 (fax)

About Higher One Holdings, Inc.

Founded in 2000, Higher One is a leading company focused on helping college business offices manage operations and provide services to students.  Through a full array of services from refunds, payments, electronic billing, payment plans, and more Higher One works closely with colleges and universities to make sure students receive financial aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.


Investor Relations:

Ken Goff, kgoff@higherone.com

Media Relations:

Lisa Giangiulio, lisa.giangiulio@edelman.com

SOURCE Higher One Holdings, Inc.