Seacoast Banking Corporation of Florida Announces $75 Million Proposed Registered Direct Public Offering

Tuesday, 5 Nov 2013 04:48pm EST 

Seacoast Banking Corporation of Florida announced that it has commenced a registered direct public offering of up to $75 million of its shares of common stock. The Company intends to use the net proceeds of this offering to redeem all of the 2,000 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, originally issued to the United States Department of the Treasury pursuant to the Capital Purchase Program as part of its Troubled Asset Relief Program. Additionally, the remainder of the proceeds will be used to support the Company's growth plans, investments in, or extensions of credit to, the Company's subsidiaries, investments in securities and other general corporate purposes. Hovde Group, LLC is acting as the placement agent in connection with this registered direct public offering. 

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