Key Developments For CoBiz Financial Inc.
CoBiz Financial Inc. (COBZ.O) (Nasdaq)
CoBiz Financial Inc Announces $0.01 Dividend
CoBiz Financial Inc announced that it has declared a $0.01 cash dividend on its common stock for the third quarter of 2009. This dividend will be paid on November 9, 2009, to shareholders of record on November 2, 2009.
CoBiz Financial Inc Announces Quarterly Dividend
CoBiz Financial Inc announced that it has declared a $0.01 cash dividend on its common stock for the second quarter of 2009. This dividend will be paid on August 10, 2009, to shareholders of record on August 3, 2009.
CoBiz Financial Inc Announces Closing Of $57 Million Common Stock Offering
CoBiz Financial Inc announced that on July 20, 2009, it had raised $57 million through the previously announced public offering of 12,670,000 shares of the Company's common stock at a price of $4.50 per share. The offering was underwritten by Keefe, Bruyette and Woods, Inc. and provided net proceeds to the Company of approximately $53.5 million after deducting underwriting discounts and commissions and estimated offering expenses.
CoBiz Financial Inc Announces Pricing of Common Stock Offering
CoBiz Financial Inc announced the pricing of an underwritten public offering of 12,670,000 shares of the Company's common stock at a price of $4.50 per share. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $53.5 million. The offering size was increased from $45 million (as previously announced) to $57 million. CoBiz intends to use the net proceeds of the offering for general corporate purposes, including supporting the capital needs of its bank subsidiary, expanding its operations through new branch offices, possible acquisitions and funding working capital needs. The Company expects to close the transaction on or about July 20, 2009. Keefe, Bruyette & Woods is acting as sole underwriter.
CoBiz Financial Inc Announces $45.0 Million Common Stock Offering
CoBiz Financial Inc announced that it has commenced an offering of approximately $45 million of its common stock in an underwritten public offering through Keefe, Bruyette & Woods. The Company intends to grant the underwriter an option to purchase up to an additional 15% of common stock sold in the offering to cover over-allotments, if any. CoBiz intends to use the net proceeds of the offering for general corporate purposes, including supporting the capital needs of its bank subsidiary, expanding its operations through new branch offices, possible acquisitions and funding working capital needs.
