Key Developments: Capital Bank Financial Corp (CBF.O)
18.00USD
21 May 2013
$0.10 (+0.56%)
$17.85
$17.95
$18.04
$17.66
234,732
184,671
$18.62
$15.14
Latest Key Developments (Source: Significant Developments)
Capital Bank Financial Corp Announces Board Authorization Of Stock Repurchase Of Up To $50 Million Of Common Stock
Capital Bank Financial Corp announced its Board of Directors authorized the repurchase of up to $50 million of its common stock, from time to time, subject to market conditions and other factors. Repurchases under the program may be made through open market or privately negotiated transactions at times and in such amounts as management deems appropriate, subject to market conditions, regulatory requirements and other factors. The program does not obligate the Company to repurchase any particular amount of common stock, and may be suspended or discontinued at any time without notice. Shares repurchased under the program are expected to be held as treasury shares. Full Article
Capital Bank Financial Corp Announces Completion of Acquisition of Southern Community Financial Corp
Capital Bank Financial Corp announced the completion of its acquisition of Southern Community Financial Corp (Southern Community), through the merger of Southern Community with a subsidiary of Capital Bank Financial. Capital Bank Financial anticipates a near term combination of Southern Community Bank and Trust, Southern Community's primary banking subsidiary, with Capital Bank, N.A., Capital Bank Financial's primary banking subsidiary. In connection with the closing of the acquisition, Capital Bank Financial has acquired all of the securities issued by Southern Community to the U.S. Department of the Treasury, for an aggregate purchase price of $46.9 million in cash. Full Article
Capital Bank Financial Corp Announces Completion Of Initial Public Offering
Capital Bank Financial Corp announced the completion of its previously announced initial public offering of 10,000,000 shares of Class A common stock at $18.00 per share. Capital Bank Financial sold 5,681,818 shares and certain of its stockholders sold 4,318,182 shares. The underwriters have an option until October 19, 2012 to purchase from the selling stockholders up to an additional 1,500,000 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. Net proceeds received by Capital Bank Financial from the Initial Public Offering were approximately $90.6 million, after deducting underwriting discounts and commissions and estimated offering expenses. Capital Bank Financial intends to use its net proceeds from the offering for general corporate purposes. Capital Bank Financial will not receive any proceeds from the sale of shares by the selling stockholders. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Goldman, Sachs & Co., Barclays and FBR acted as joint book-running managers of the offering. Keefe, Bruyette & Woods and Sandler, O'Neill + Partners, L.P. acted as co-managers of the offering. Full Article
Capital Bank Financial Corp Announces Pricing Of Initial Public Offering
Capital Bank Financial Corp announced the pricing of its initial public offering of 10,000,000 shares of Class A common stock at $18.00 per share. Capital Bank Financial is selling 5,681,818 shares and certain of its stockholders are selling 4,318,182 shares. The shares of Class A common stock are expected to begin trading on The NASDAQ Global Select Market on September 20, 2012 under the symbol "CBF." The underwriters have a 30-day option to purchase from the selling stockholders up to an additional 1,500,000 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. The offering is expected to close on September 25, 2012. Capital Bank Financial will not receive any proceeds from the sale of shares by the selling stockholders. Capital Bank Financial intends to use its net proceeds from the offering for general corporate purposes. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Goldman, Sachs & Co., Barclays and FBR are acting as joint book-running managers of the offering. Keefe, Bruyette & Woods and Sandler, O'Neill + Partners, L.P. are acting as co-managers of the offering. Full Article
Capital Bank Financial Corp Commences Initial Public Offering Of Class A Common Stock
Capital Bank Financial Corp announced the launch of initial public offering of 11,363,636 shares of Class A common stock. Capital Bank Financial is offering 5,681,818 shares and certain of stockholders are offering 5,681,818 shares. The estimated initial public offering price is between $21.00 and $23.00 per share. Capital Bank Financial has applied to list Class A common stock on The Nasdaq Global Select Market under the symbol CBF. The underwriters will have the option to purchase from the selling stockholders up to an additional 1,704,545 shares of Class A common stock, on the same terms and conditions, to cover over-allotments. Capital Bank Financial will not receive any proceeds from the sale of shares by the selling stockholders. Capital Bank Financial intends to use net proceeds from the offering for general corporate purposes. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Goldman, Sachs & Co., Barclays and FBR are acting as joint book-running managers of the proposed offering. Keefe, Bruyette & Woods and Sandler, O'Neill + Partners, L.P. are acting as co-managers of the proposed offering. Full Article
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