Actionable news
0
All posts from Actionable news
Actionable news in ISBC: Investors Bancorp, Inc.,

The Bank of Princeton Announces Commencement of Public Offering of Common Stock and Application to List on Nasdaq

PRINCETON, N.J., July 24, 2017 /PRNewswire/ -- The Bank of Princeton (OTC-Pink: BPRN) announced today that it has commenced an underwritten public offering of approximately $40 million of shares of its common stock. All of the shares to be sold in the offering will be offered by The Bank of Princeton. In addition, The Bank of Princeton intends to grant the underwriters a 30-day over-allotment option to purchase an additional 15% of the shares sold in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

The Bank of Princeton intends to use the proceeds for general corporate purposes, including to support additional growth organically through growing its loan portfolio or through strategic acquisitions, financings, investments, and capital expenditures.

Sandler O'Neill + Partners, L.P. is acting as sole book-running manager for the proposed offering. Boenning & Scattergood, Inc. and FBR Capital Markets & Co., a B. Riley Financial Company, are acting as co-managers.

The offering will be made only by means of an offering circular. Copies of the preliminary offering circular relating to this offering may be obtained, when available, by contacting Sandler O'Neill + Partners, L.P., Attention: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or via email at syndicate@sandleroneill.com.

The Bank of Princeton has also submitted an application to list its shares of common stock on The NASDAQ Stock Market LLC ("Nasdaq"). The listing is conditional on...


More