Capital Bank to raise $55 million through secondary offering

Posted on: Fri, 23 Oct 2009 14:43:00 EDT


Symbols: CBKN
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 on Capital Bank Corp Rlghnc (CBKN) CBKN. Capital Bank Corp Rlghnc (CBKN) has Short Term PowerRatings at TradingMarkets. Details on Capital Bank Corp Rlghnc (CBKN) Short Term PowerRatings is available at This Link.

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