Market Overview

First Business Financial Services Prices 1.1M Share Offering at $23/Share

First Business Financial Services (NASDAQ: FBIZ) (the "Company"), the parent company for First Business Bank and First Business Bank - Milwaukee, announced Tuesday that it has priced a public offering of 1,100,000 shares of common stock at $23.00 per share. The Company expects to close the offering on Monday, December 10, 2012. Stifel, Nicolaus & Company, Incorporated is serving as lead manager and sole book runner and Raymond James & Associates, Inc. and FIG Partners, LLC are serving as co-managers for the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 165,000 shares, representing 15% of the total number of shares to be sold by the Company in the offering, to cover over-allotments, if any.   

The Company expects that the net proceeds from this offering will support the future growth of its organization by allowing the Company to accelerate its organic growth in existing or new markets and to potentially pursue opportunistic acquisitions of similar or complementary financial services organizations. The immediate use of the net proceeds from this offering will be to repay a portion of the Company's existing subordinated debt.

This press release shall not

See full press release

Posted-In: News Guidance Management

 

Related Articles (FBIZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters