New Issue: State Bancorp closes $37.78 million stock offering

By Sheri Kasprzak

New York, Dec. 22 - State Bancorp, Inc. completed a private placement of stock for $37,788,456.

The company sold 2,196,300 shares at $16.75 each to a group of unaffiliated investors and 53,700 shares at $18.63 each to Thomas O'Brien, the company's chief operating officer.

Sandler O'Neill & Partners, LP was the placement agent.

Based in Jericho, N.Y., State Bancorp is a holding company for the State Bank of Long Island.

Issuer:	State Bancorp, Inc.
Issue:	Stock
Amount:	$37,788,456
Shares:	2.25 million
Price:	$16.75 for 2,196,300 shares; $18.63 for 53,700 shares
Warrants:	No
Placement agent:	Sandler O'Neill & Partners, LP
Settlement date:	Dec. 21
Stock symbol:	Nasdaq: STBC
Stock price:	$18.61 at close Dec. 21

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.