Key Developments For Whitney Holding Corporation
Whitney Holding Corporation (WTNY.O) (Nasdaq)
Whitney Holding Corporation Announces Quarterly Common Stock Dividend
The Board of Directors of Whitney Holding Corporation declared a quarterly common dividend of $0.01 per common share payable on January 4, 2010, to shareholders of record as of December 15, 2009.
Whitney Holding Corporation Announces Closing of Common Stock Offering
Whitney Holding Corporation announced it has completed its previously announced $200 million underwritten public offering of 25 million shares of the Company's common stock at a public offering price of $8.00 per share. The underwriters also exercised in full their overallotment option to purchase an additional 3.75 million shares from the Company, resulting in a total offering of $230 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $217.9 million. The net proceeds will qualify as Tier 1 capital and will be used for working capital and general corporate purposes which may include capital to support organic growth, to eventually redeem the Company's preferred stock and warrant issued to the U.S. Department of Treasury pursuant to the Capital Purchase Program, and to facilitate future acquisition opportunities. J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, Inc. served as joint book-running managers for the offering.
Whitney Holding Corporation Announces Pricing Of Common Stock Offering
Whitney Holding Corporation announced that it has priced a public offering of 25 million shares of its common stock at $8.00 per share. The underwriters will have a 30 day option to purchase up to an additional 3.75 million shares of the Company's common stock to cover overallotments, if any. The offering will generate gross proceeds of $200 million, without giving effect to the potential exercise of the underwriters' option to purchase additional shares in the next 30 days. The closing date for the transaction is expected to be October 27, 2009. The Company expects to use the proceeds from the offering for working capital and general corporate purposes, which may include capital to support organic growth, to better position the Company for the eventual redemption of the Company's preferred stock and warrant issued to the U.S. Department of Treasury pursuant to the Capital Purchase Program, and to facilitate future acquisition opportunities. J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, Inc. served as joint book running managers for the offering.
Whitney Holding Corporation Announces Common Stock Offering
Whitney Holding Corporation announced an underwritten public offering of $200 million of its common stock. The Company intends to grant the underwriters a 30-day option to purchase an additional 15% of the shares to cover over-allotments, if any. The Company expects to use the proceeds from the offering for working capital and general corporate purposes, which may include capital to support organic growth, to better position the Company for the eventual redemption of the Company's preferred stock and warrant issued to the U.S. Department of Treasury pursuant to the Capital Purchase Program, and to facilitate future acquisition opportunities. J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, Inc. will serve as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Sandler O'Neill + Partners, L.P. will serve as co-managers.
Whitney Holding Corporation Announces Quarterly Common Stock Dividend
Whitney Holding Corporation announced that its Board of Directors has declared a quarterly common dividend of $0.01 per common share payable on October 1, 2009 to shareholders of record as of September 15, 2009.
