BankAtlantic may use proceeds from new securities to fund TruPS offer

By Lisa Kerner

Charlotte, N.C., Feb. 12 - BankAtlantic Bancorp, Inc. intends to file an S-3 shelf registration statement registering up to $75 million of its securities that it may issue from time to time in the future, according to a form 8-K filed with the Securities and Exchange Commission.

The company is exploring options for raising funds needed to satisfy the financing condition to the recently announced cash tender offers for 13 series of its trust preferred securities totaling $285,375,000.

BankAtlantic, a Fort Lauderdale, Fla., bank holding company, may use all or a portion of the proceeds from the sale of the securities registered under the S-3 filing to purchase any TruPS that are validly tendered and not withdrawn.

The tender offers end at 5 p.m. ET on Feb. 22.

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