Bank of Florida Announces Public Offering
05 Novembre 2009 - 3:15PM
Business Wire
Bank of Florida Corporation (Nasdaq: BOFL) (the “Company”) today
announced that it has commenced an offering to sell shares of its
common stock in an underwritten public offering. Raymond James
& Associates, Inc. is acting as the lead book-running manager
for the offering. Sandler O’Neill & Partners, L.P.,
Allen & Company LLC and Stifel, Nicolaus &
Company, Incorporated are acting as co-managers for the offering.
The Company intends to grant the underwriters an option to purchase
additional shares equal to 15% of the numbers of shares offered to
the public.
The Company expects to use approximately $71 million of the
net proceeds from the offering to capitalize its subsidiary banks
pursuant to regulatory agreements regarding projected capital
levels as of December 31, 2009. In addition, the Company expects to
use a portion of the net proceeds of the offering to redeem any
shares of its outstanding Series B Preferred Stock that are
not converted by the holders of the Series B Preferred Stock
according to its terms.
A registration statement relating to shares of the Company’s
common stock to be sold in the offering has been filed with the
Securities and Exchange Commission (“SEC”) but has not yet become
effective. The registration statement also covers shares of the
Company’s common stock issuable upon conversion of shares of its
Series B Preferred Stock that are not redeemed for cash as
described above. None of the shares of common stock covered by the
registration statement may be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes
effective. The registration statement on Form S-1 may be
accessed through the SEC’s website at www.sec.gov. Alternatively,
copies of the prospectus relating to the offering may be obtained
from Raymond James & Associates, Inc. at 880 Carillon Parkway,
St. Petersburg, FL 33716 or by telephone at (727) 567-2400.
Bank of Florida Corporation
Bank of Florida Corporation (Nasdaq: BOFL) is a $1.6
billion-asset multi-bank holding Company located in Naples,
Florida. Bank of Florida Corporation is the parent company for Bank
of Florida - Southwest in Collier and Lee Counties; Bank of Florida
- Southeast in Broward, Miami-Dade and Palm Beach Counties; Bank of
Florida - Tampa Bay in Hillsborough and Pinellas Counties; and Bank
of Florida Trust Company. Investor information may be found on the
Company’s web site, http://www.bankofflorida.com, by clicking on
“Investor Relations.” To receive an email alert of all company
press releases, SEC filings, and events, select the “Email
Notification” section.
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