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Eagle Bancorp Inc Completes $35 Million At Market Offering And Raises An Additional $10 Million In Underwritten Offering


Monday, 29 Oct 2012 05:00am EDT 

Eagle Bancorp Inc announced that it has completed the sale of shares of its common stock under its at the market equity offering program announced on May 1, 2012. The Company sold an aggregate of 2,052,074 shares of common stock in open market trading under the program, at an average weighted price of $17.0559 per share, for aggregate gross proceeds of approximately $35.0 million, and net proceeds of approximately $33.8 million, after commissions. Sandler O'Neill + Partners, L.P. served as sales agent for the at-the-market offering program. Eagle Bancorp also announced today that it has priced an offering of 552,012 shares of common stock under the Company's previously filed shelf registration statement, at a price of $18.25 per share. At closing, the Company expects to net proceeds of approximately $9.7 million after underwriting discounts and expenses. The closing of the offering is expected to occur on or about October 31, 2012, subject to customary closing conditions. Sandler O'Neill + Partners, L.P. is the sole underwriter for the offering. The shares of common stock are being sold pursuant to the Company's existing shelf registration statement on file with the Securities and Exchange Commission (the SEC) (Registration No. 333-183054). The Company intends to use the proceeds from the offering for contribution of capital to its subsidiaries, including the Bank, to support organic growth and for general corporate purposes. 

Company Quote

36.57
0.2 +0.55%
22 Apr 2014