FORT LAUDERDALE, Fla.--(Business Wire)--
BankAtlantic Bancorp, Inc. (NYSE:BBX) today announced that it has
decided to pursue a rights offering to holders of its Class A Common
Stock at a subscription price of $1.10 per share for up to 50 million
shares of its Class A Common Stock. Upon commencement of the rights
offering, BankAtlantic Bancorp will distribute non-transferable
subscription rights to purchase shares of its Class A Common Stock to
each holder of such stock as of the close of business on August 13,
2008, the record date for the rights offering. The amount of
subscription rights to be distributed in the rights offering will be
determined based on the total number of outstanding shares of
BankAtlantic Bancorp's Class A Common Stock on the record date. Each
whole subscription right will entitle the holder thereof to purchase
one share of BankAtlantic Bancorp's Class A Common Stock at the
purchase price of $1.10 per share. Additionally, shareholders who
elect to exercise their subscription rights in full may also subscribe
for additional shares of BankAtlantic Bancorp's Class A Common Stock
that remain unsubscribed for at the expiration of the rights offering
at $1.10 per share under their respective over-subscription right.
This press 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 in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state. When available, copies of the
prospectus and the accompanying prospectus supplement relating to
these securities may be obtained by contacting BankAtlantic Bancorp,
Inc., Attn: Investor Relations, 2100 West Cypress Creek Road, Fort
Lauderdale, FL 33309.
About BankAtlantic Bancorp:
BankAtlantic Bancorp (NYSE:BBX) is a bank holding company and the
parent company of BankAtlantic.
About BankAtlantic:
BankAtlantic, "Florida's Most Convenient Bank", with over $6
billion in assets and more than 100 stores is one of the largest
financial institutions headquartered in Florida. BankAtlantic provides
a full line of products and services encompassing consumer and
commercial banking. BankAtlantic is open 7 days a week and offers
holiday hours, extended weekday hours, Totally Free Online Banking &
Bill Pay, a 7-Day Customer Service Center, Totally Free Change
Exchange coin counters and free retail and business checking with a
free gift. BankAtlantic has been serving communities throughout
Florida since 1952 and currently operates more than 250 conveniently
located ATMs. The bank has supported thousands of charitable, civic
and professional organizations since the inception of the BankAtlantic
Foundation in 1994.
For further information, please visit our websites:
www.BankAtlanticBancorp.com
www.BankAtlantic.com
-- To receive future BankAtlantic Bancorp news releases or
announcements directly via Email, please click on the Email Broadcast
Sign Up button on our website: www.BankAtlanticBancorp.com.
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BankAtlantic Bancorp Contact Info:
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Donna Rouzeau,
Assistant Vice President, Investor Relations & Corporate
Communications
Email: CorpComm@BankAtlanticBancorp.com
Leo Hinkley,
Senior Vice President, Investor Relations Officer
Email: InvestorRelations@BankAtlanticBancorp.com
Phone: 954-940-5300, Fax: 954-940-5320
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Mailing Address: BankAtlantic Bancorp, Investor Relations
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2100 West Cypress Creek Road, Fort Lauderdale, FL 33309
BankAtlantic, "Florida's Most Convenient Bank," Contact Info:
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Public Relations:
Hattie Hess, Vice President, Public Relations
Telephone: 954-940-6383, Fax: 954-940-6310
Email: hhess@BankAtlantic.com
Public Relations for BankAtlantic:
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Boardroom Communications
Caren Berg
Phone: 954-370-8999, Fax: 954-370-8892
Email: cberg@boardroompr.com
*T
Matters discussed in this press release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended (the "Securities Act"), and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), that
involve substantial risks and uncertainties, including but not limited
to the risk that, because of business, economic or market conditions
or for any other reasons within BankAtlantic Bancorp's discretion,
BankAtlantic Bancorp may decide not to pursue the rights offering on
the terms proposed, if at all, and that the rights offering may not be
consummated. In addition to the risks and uncertainties identified
above, reference is also made to other risks and uncertainties
detailed in reports filed by BankAtlantic Bancorp with the Securities
and Exchange Commission. BankAtlantic Bancorp cautions that the
foregoing risks and uncertainties are not exclusive.
BankAtlantic Bancorp, Inc., Fort Lauderdale
Donna Rouzeau or Leo Hinkley, 954-940-5300
or
Public Relations:
Hattie Hess, 954-940-6383
or
Public Relations for BankAtlantic:
Boardroom Communications
Caren Berg, 954-370-8999
Copyright Business Wire 2008
