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Article: Union Bankshares Corporation Announces $62.5 Million Common Stock Offering.
- Article from:
- Investment Weekly News
- Article date:
- September 26, 2009
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Union Bankshares Corporation (NASDAQ:UBSH), announced that it intends to offer and sell approximately $62.5 million in common stock. Keefe, Bruyette & Woods will act as lead book-running manager, with Scott & Stringfellow and SunTrust Robinson Humphrey acting as co-managers. The shares will be issued pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. Union Bankshares Corporation intends to grant the underwriters an option to purchase up to an additional 15% of the shares sold to cover over-allotments, if any. Union Bankshares Corporation expects the net proceeds from the offering will be used for general ...