Key Developments For Seacoast Banking Corporation of Florida
Seacoast Banking Corporation of Florida (SBCF.O) (Nasdaq)
Seacoast Banking Corp. Announces Closing Of Sale Of Additional 4,375,000 Shares Of Common Stock
Seacoast Banking Corp. announced that it has closed the sale of an additional 4,375,000 shares of its common stock at the public offering price of $2.25 per share. The shares were sold pursuant to the full exercise of an over-allotment option granted to the underwriters of the Company's recent underwritten offering of 29,300,000 shares of its common stock (Underwritten Offering). Sandler O'Neill & Partners, L.P. acted as the lead book-running manager for the Underwritten Offering. The Company will receive gross proceeds of approximately $9.8 million from the sale of the 4,375,000 shares. The Company expects to use the net proceeds of the offering for general corporate purposes and to add capital to Seacoast National Bank.
Seacoast Banking Corp. Closes Sale Of Approximately $66 Million Of Common Stock
Seacoast Banking Corp. announced that it has closed the public offering (the Underwritten Offering) of 29,300,000 shares of its common stock at a price to the public of $2.25 per share for total gross proceeds of approximately $66 million. The Company expects to use the net proceeds of the offering for general corporate purposes and to add capital to Seacoast National Bank. Sandler O'Neill & Partners, L.P. acted as the lead book-running manager for the Underwritten Offering, and Fox-Pitt Kelton Cochran Caronia Waller acted as the co-manager.
Seacoast Banking Corp. Announces Pricing of Common Stock Offering
Seacoast Banking Corp. announced that it has priced a public offering of 29,300,000 shares of common stock to the public at $2.25 per share for total gross proceeds of approximately $66 million. The Company expects to close the sale of the shares of common stock on August 19, 2009. The underwriters will have a 30-day option to purchase up to an additional 4,375,000 shares of common stock from the Company at the public offering price, less underwriters' discounts and commissions. The Company's public offering of an aggregate of 33,675,000 shares of common stock (including up to 4,375,000 shares that may be issued upon exercise of the underwriters' over-allotment option) as described above is referred to herein as the Underwritten Offering. Sandler O'Neill & Partners, L.P. is acting as the lead book-running manager for the Underwritten Offering, and Fox-Pitt Kelton Cochran Caronia Waller is acting as the co-manager.
Seacoast Banking Corp. Announces Letter of Intent With CapGen Financial Partners and Amends Public Offering
Seacoast Banking Corp. announced that it has entered into a letter of intent (the Letter of Intent) with CapGen Financial Partners pursuant to which an affiliate of CapGen intends to purchase 6,000,000 shares of the Company's common stock in a public offering (the CapGen Offering). CapGen's designated affiliate intends to purchase shares of Company common stock at the same price at which shares are offered to the public in the Company's previously announced offering (the Underwritten Offering) at a price up to $2.50 per share. CapGen has completed its diligence of the Company, and the letter of intent with CapGen is subject to the execution and delivery of a definitive stock purchase agreement and the registration statement covering the shares offered in the Underwritten Offering and the CapGen Offering becoming effective. Upon the closing of the CapGen Offering, CapGen will be entitled to appoint one director to the Company's Board of Directors. The Company also agreed to grant CapGen preemptive rights with respect to further offerings of the Company's common stock for a period of 24 months. The Company also announced that its previously commenced Underwritten Offering has been reduced to 28,500,000 shares of common stock to reflect CapGen's proposed investment. The Company expects to use the net proceeds from these offerings for general corporate purposes and to add capital to Seacoast National Bank.
Seacoast Banking Corp. Announces Public Offering
Seacoast Banking Corp. announced that it has commenced an offering to sell 34,500,000 shares of common stock in an underwritten public offering. Sandler O'Neill & Partners, L.P. is acting as the lead book running manager. The Company intends to grant the underwriters an option to purchase up to an additional 5,175,000 shares sold to cover over allotments, if any. The Company expects to use the net proceeds from this offering for general corporate purposes and to add capital to Seacoast National Bank.
