(Source: Datamonitor)
US-based CVB Financial, the parent company of wholly owned subsidiary Citizens Business Bank, has priced an underwritten public offering of 19.7 million shares of its common stock at a price of $5.85 per share, for gross proceeds of approximately $115.2 million.
The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $109.5 million.
The company expects to close the sale of common stock, subject to customary conditions, on or about July 27, 2009.
Keefe, Bruyette & Woods and Sandler O'Neill + Partners are acting as joint book-running managers for the offering.
The company has granted the underwriters a 30-day option to purchase up to an additional 2.95 million shares of the company's common stock to cover over-allotments, if any.
A service of YellowBrix, Inc.
