AUSTIN, Texas, Feb. 28, 2012 (GLOBE NEWSWIRE) -- NetSpend Holdings, Inc. (Nasdaq:NTSP), a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services, has been advised that Oak Investment Partners X, Limited Partnership and Oak X Affiliates Fund, Limited Partnership have distributed an aggregate of 11,219,355 shares of the Company previously owned by them to their limited partners and the equityholders of their respective general partners. The amount distributed by the Oak funds represents approximately one third of their holdings in the Company.
NetSpend is a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services to the estimated 60 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company's mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, TX, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP. Please visit http://www.netspend.com for more information.
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