First Financial Raises $65 Million From Common Stock Offering

Thursday, October 01, 2009 6:54 AM

(Source: Datamonitor) tracking

US-based First Financial Holdings, the holding company for First Federal Savings and Loan Association of Charleston, has raised $65 million through a public offering by issuing 4.19 million shares of the company's common stock at a price of $15.50 per share.

The net proceeds to the company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be $60.6 million.

Sandler O'Neill + Partners is serving as sole bookrunning manager of the offering, and Keefe Bruyette & Woods, Scott & Stringfellow and FIG Partners are serving as co-managers.

The company has granted the underwriters a 30-day option to purchase up to an additional 15% of the shares sold to cover over-allotments, if any.

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