Key Developments For Signature Bank
Signature Bank (SBNY.O) (Nasdaq)
Signature Bank Completes Public Offering
Signature Bank announced the completion of its public offering of 5,175,000 shares of common stock at $26 per share, including the over allotment of 675,000 shares exercised by the underwriters. The net proceeds to Signature Bank from the offering were approximately $127.1 million, after the deduction of underwriting discounts and commissions and offering expenses. Proceeds from this offering will be used to continue the Bank's growth in serving its niche market of privately owned businesses in the metro New York area. Merrill Lynch and & Co., Inc. acted as sole book running manager in Signature Bank's offering.
Signature Bank Announces Pricing of Public Offering
Signature Bank announced that its public offering of 4,500,000 million shares of common stock was priced at $26.00 per share. All shares are being offered by the Company. The Company has also granted to the underwriters a 30-day option to purchase up to 675,000 additional shares of common stock from the Company to cover overallotments. The transaction is expected to close on June 8, 2009. Merrill Lynch & Co. is acting as sole book-running manager in the offering. FBR Capital Markets is acting as co-lead manager.
Signature Bank Announces Public Offering
Signature Bank announced an underwritten public offering of four million shares of its common stock. The Bank will also grant to the underwriters a 30 day option to purchase up to 600,000 additional shares of common stock to cover overallotments, if any. Merrill Lynch & Co. is expected to act as sole book running manager in the offering. FBR Capital Markets is expected to act as co lead manager.
Signature Bank Issues $120 Million of Senior Preferred Shares
Signature Bank announced that it successfully completed an offering of $120 million in capital from the sale of 120,000 senior preferred shares as part of the U.S. Department of Treasury’s Capital Purchase Program.
Signature Bank Receives Preliminary Approval For $120 Million Of Capital From U.S. Department Of Treasury's Capital Purchase Program
Signature Bank announced that it has been selected to receive $120 million in capital from the U.S. Department of Treasury's Capital Purchase Program, from the sale of senior preferred shares. This also includes 15% in warrants for the purchase of common stock. The Capital Purchase Program is only available to financially sound institutions. The anticipated sale of the preferred stock and warrants is expected to close within 30 days and is contingent upon completion of standard closing documents.
