F.N.B. Corporation (NYSE: FNB - News) today announced the pricing of an underwritten public offering of 21.0 million shares of its common stock at a price of $5.50 per share.
Keefe, Bruyette & Woods is acting as the lead book-running manager, with Sandler O'Neill + Partners, L.P. and SunTrust Robinson Humphrey acting as co-managers. F.N.B. Corporation has granted the underwriters a 30-day option to purchase up to an additional 3.15 million shares of F.N.B. Corporation common stock to cover over-allotments, if any.
F.N.B. Corporation intends to use the net proceeds from the offering, which are expected to be approximately $109.3 million (without giving effect to the exercise of the underwriters' over-allotment option), for general corporate purposes and the possible repurchase of the $100 million of preferred shares plus the warrant issued in connection therewith held by the U.S. Treasury.
F.N.B. Corporation expects to close the sale of common stock, subject to customary conditions, on June 16, 2009.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment