United Western Bancorp raises $80 million through public offering of common stock

Wed. September 23, 2009; Posted: 02:21 PM

Sep 23, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- UWBK | Quote | Chart | News | PowerRating -- United Western Bancorp, Inc. (UWB) has completed its public offering of 20 million shares of its common stock at a price of $4 per share raising gross proceeds of $80 million.

UWB is a US-based holding company that, through its subsidiaries, provides diversified financial services.

Update on September 16, 2009:

UWB has priced a public offering of 20 million shares of its common stock at a price of $4 per share.

The underwriters will have a 30-day option to purchase up to an additional 3 million shares of common stock from UWB at the offering price to cover over-allotments, if any. The offering is expected to close on or about September 22, 2009.

Update on September 8, 2009:

UWB has commenced a public offering of $80 million of its common stock in an underwritten public offering.

UWB intends to grant the underwriters an option to purchase up to an additional 15% of the common stock sold to cover over-allotments, if any.

Announcement (August 10, 2009):

UWB has filed a registration statement with the Securities and Exchange Commission to raise approximately $80 million in an underwritten public offering its common stock.

Sandler O'Neill & Partners, L.P. is acting as lead manager for the offering, while FBR Capital Markets & Co. and Sterne, Agee & Leach, Inc. are acting as co-managers. Greenberg Traurig, LLP is acting as legal advisor for the transaction.

Deal Value (US$ Million) 80
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Completed: 2009-09-22

Deal Participants

Target (Company) United Western Bancorp, Inc.

Deal Rationale

UWB expects to use the net proceeds from the offering to support the growth and related regulatory capital needs of United Western Bank(R), repay indebtedness under its revolving line of credit, and for general working capital purposes.

Offer Price ($ per share) 4
No. Shares Issued         20000000

For full details on United Western Bancorp Inc (UWBK) click here. United Western Bancorp Inc (UWBK) has Short Term PowerRatings of 4. Details on United Western Bancorp Inc (UWBK) Short Term PowerRatings is available at This Link.

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