Key Developments For United Western Bancorp, Inc.
United Western Bancorp, Inc. (UWBK.O) (Consolidated Issue listed on NASDAQ Global Market)
United Western Bancorp, Inc. Suspends Dividend
United Western Bancorp, Inc. announced that its Board of Directors made the strategic decision to suspend its quarterly cash dividends. The cash dividend paid in the last quarter was $0.01 per share.
United Western Bancorp, Inc. Announces Closing Of Sale Of Additional 1,961,325 Shares Of Common Stock
United Western Bancorp, Inc. announced the issuance of 1,961,325 shares of its common stock at a price of $4.00 per share, for total gross proceeds of approximately $7.8 million. The issuance is a result of the partial exercise of the over-allotment option to purchase additional shares granted to the underwriters in United Western Bancorp's previously announced public offering of 20,000,000 shares of its common stock, which closed on September 22, 2009. The net proceeds from the offering, including the exercise of the over-allotment, were approximately $81.5 million, after deducting underwriting discounts and commissions and offering expenses. Sandler O`Neill + Partners, L.P. acted as the lead manager for the offering. FBR Capital Markets & Co. and Sterne, Agee & Leach, Inc. served as co-managers.
United Western Bancorp, Inc. Announces Closing of $80 Million Common Stock Offering
United Western Bancorp, Inc. announced that it has closed the previously announced public offering of 20,000,000 shares of its common stock at a price to the public of $4.00 per share for total gross proceeds of $80 million. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $74.1 million. Sandler O'Neill + Partners, L.P. acted as the lead manager for the offering. FBR Capital Markets & Co. and Sterne, Agee & Leach, Inc. served as co-managers. The underwriters have an unexercised 30 day option from September 16, 2009 to purchase up to an additional 3,000,000 shares of common stock from United Western Bancorp at the offering price to cover over-allotments, if any. United Western Bancorp expects to use the proceeds from the offering to support the growth and related regulatory capital needs of United Western Bank and to repay indebtedness under its revolving line of credit, with any remainder for strategic acquisitions and general working capital purposes.
United Western Bancorp, Inc. Announces Pricing of Common Stock Offering
United Western Bancorp, Inc. announced that it has priced a public offering of 20,000,000 shares of its common stock in an underwritten public offering at $4.00 per share. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $74.1 million. Sandler O`Neill + Partners, L.P. is acting as the lead manager for the offering. FBR Capital Markets & Co. and Sterne, Agee & Leach, Inc. are serving as co-managers. The underwriters will have a 30-day option to purchase up to an additional 3,000,000 shares of common stock from United Western Bancorp at the offering price to cover over-allotments, if any. United Western Bancorp expects to close the sale of the shares of its common stock on or about September 22, 2009. United Western Bancorp expects to use the proceeds from the offering to support the growth and related regulatory capital needs of United Western Bank and to repay indebtedness under its revolving line of credit, with any remainder for strategic acquisitions and general working capital purposes.
United Western Bancorp, Inc. Announces Common Stock Offering
United Western Bancorp, Inc. announced that it has commenced a public offering of $80 million of its common stock in an underwritten public offering. Sandler O'Neill + Partners, L.P. will be the lead manager for the offering. United Western Bancorp intends to grant the underwriters an option to purchase up to an additional 15% of the common stock sold to cover over allotments, if any. United Western Bancorp expects to use the proceeds from the offering to support the growth and related regulatory capital needs of United Western Bank and to repay indebtedness under its revolving line of credit, with any remainder for strategic acquisitions and general working capital purposes.
