Capital Bank to raise $55 million through secondary offering

Fri. October 23, 2009; Posted: 02:43 PM

Oct 23, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- CBKN | Quote | Chart | News | PowerRating -- Capital Bank Corporation, a US-based financial holding company, is planning to raise approximately $55 million through a public offering of shares of its common stock.

Capital Bank would grant the underwriters a 30-day option to purchase up to an additional 15% of the shares offered to cover over-allotments.

Sandler O'Neill & Partners, L.P. is acting as book-running manager and Howe Barnes Hoefer & Arnett, Inc. as co-manager for the offering.

Deal Value (US$ Million) 55
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Announced: 2009-10-22

Deal Participants

Target (Company) Capital Bank Corporation

Deal Rationale

The net proceeds of the offering will be used for general corporate purposes.

For full details for CBKN click here.

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