PrivateBancorp closes public offering of common stock

Wednesday, November 04, 2009 5:53 AM

(Source: Datamonitor) tracking

PrivateBancorp has closed its underwritten public offering of common stock, which included the full exercise of the underwriters' over-allotment option, and issued a total of 22.2 million shares for net proceeds of $181.2 million to the company after deducting underwriting commissions. Of that amount, approximately $35.3 million was purchased by certain funds managed by GTCR Golder Rauner II.

In addition, GTCR has purchased approximately $12.8 million of non-voting common stock of the company, or 1.6 million shares, through an exercise of preemptive rights (based on the aggregate public offering amount less the amount purchased by GTCR in the public offering).

JP Morgan Securities was the sole bookrunning manager for the offering. SunTrust Robinson Humphrey was lead manager. Robert W Baird & Company, Keefe, Bruyette & Woods and William Blair & Company were co-managers.

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