Deal was conducted by FBR, Sterne Agee and Boenning & Scattergood
By Devika Patel
Knoxville, Tenn., May 22 - Customers Bancorp, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $13.5 million greenshoe in full for total proceeds of $103.5 million. The deal priced for $90 million with the greenshoe on May 16.
The company sold 6,179,104 common shares at $16.75 apiece. The price reflects a 0.84% premium to the May 15 closing share price of $16.61. Of the shares, 805,970 were part of the fully exercised greenshoe.
FBR Capital Markets & Co., Sterne, Agee & Leach, Inc., and Boenning & Scattergood, Inc. were the underwriters.
Proceeds will be used for organic growth, acquisitions, working capital and other general corporate purposes.
Based in Wyomissing, Pa., Customers is a bank holding company.
| Issuer: | Customers Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $103.5 million (including $13.5 million greenshoe)
|
| Shares: | 6,179,104
|
| Price: | $16.75
|
| Warrants: | No
|
| Underwriters: | FBR Capital Markets & Co., Sterne, Agee & Leach, Inc., and Boenning & Scattergood, Inc.
|
| Pricing date: | May 16
|
| Settlement date: | May 22
|
| Stock exchange: | Nasdaq: CUBI
|
| Stock price: | $16.61 at close May 15
|
| Market capitalization: | $317.13 million
|
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