BB&T Corp Prices $1.5B Equity Offering

BB&T Corporation (NYSE: BBT - News) announced today that it has priced a public offering of 75 million shares of common stock at a price to the public of $20 per share for total gross proceeds of $1.5 billion. The underwriters have a 30-day option to purchase up to an additional 11.25 million shares of common stock from BB&T to cover over-allotments. Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated are serving as joint book-running managers for the offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, is acting as a co-manager for the offering.