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Article: STERLING FINANCIAL CORP. OF SPOKANE, WASH., ISSUES $1.8125 SERIES A CUMULATIVE CONVERTIBLE PREFERRED STOCK
- Article from:
- PR Newswire
- Article date:
- May 3, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SPOKANE, Wash., May 3 /PRNewswire/ -- Sterling Financial Corp. (NASDAQ: STSA) announced today the issuance of 1,000,000 shares of $1.8125 Series A Cumulative Convertible Preferred Stock at $25.00 per share for a total offering of $25,000,000. The Convertible Preferred Stock is convertible into Common Stock of Sterling on or after July 11, 1994 at a conversion price of $15.50 (equal to 1.6129 shares of Common Stock for each share of Convertible Preferred Stock). The Convertible Preferred Stock will trade on the Nasdaq National Market under the symbol "STSAP." The Convertible Preferred Stock is being underwritten by Dain Bosworth Inc. and Piper Jaffray Inc.
The ...