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Customers Bancorp Inc Commences Public Offering Of Common Stock

Thursday, 9 May 2013 04:28pm EDT 

Customers Bancorp Inc announced that it has commenced an underwritten public offering of $75 million of its voting common stock. FBR Capital Markets & Co. is acting as the sole book-running manager for the offering and Sterne, Agee & Leach, Inc. and Boenning & Scattergood, Inc. are acting as co-managers for the offering. Customers expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of voting common stock sold, solely to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Customers has applied to list its voting common stock on the Nasdaq Global Select Market under the symbol "CUBI." Customers currently expects that the listing will take effect at time of pricing of this offering. Customers intends to use the net proceeds from the offering to fund organic growth, and for working capital and other general corporate purposes. Customers may also use a portion of the net proceeds to pursue acquisitions in its current and prospective markets. 

Company Quote

-0.16 -0.84%
18 Dec 2014