BankUnited Shares Trading Lower After Company Announced 1.5M Share Secondary Offering of Common Stock
BankUnited (NYSE: BKU) (together with its subsidiaries, the "Company") announced today the commencement of an underwritten offering of 10,307,197 shares of its common stock by investment funds affiliated with The Blackstone Group, The Carlyle Group, WL Ross & Co. LLC and Centerbridge Partners, L.P., subject to market and other conditions. BankUnited, Inc. will not receive any proceeds from the offering. In connection with the offering, the Selling Stockholders intend to grant the underwriter an option to purchase an additional 1,546,079 shares in the offering. The offering will be made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on March 6, 2013. Goldman, Sachs & Co. is acting as the sole underwriter for this offering. When available, copies of the prospectus supplement and accompanying prospectus related to this offering may be obtained from: Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: firstname.lastname@example.org. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About BankUnited, Inc. BankUnited, Inc., a bank holding company with consolidated total assets of $15.0 billion at December 31, 2013, is the holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 99 branches in 15 Florida counties and 6 banking centers in the New York metropolitan area. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company's current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "could," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company or on the Company's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to the Company's operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if the Company's underlying assumptions prove to be incorrect, the Company's actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements including, but not limited to, the risk factors described in the prospectus supplement for the underwritten offering and the Company's most recent Annual Report on Form 10-K, filed with the SEC and available at the SEC's website (www.sec.gov).
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.