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Article: Capital Bank Announces Plans for Public Stock Offering.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Capital Bank Corporation (NASDAQ:CBKN), the parent company of Capital Bank, announced its intention to commence a public offering of approximately $55 million of its common stock, which will be underwritten by Sandler O'Neill + Partners, L.P. as book-running manager and Howe Barnes Hoefer & Arnett as co-manager. The underwriters will have a 30-day option to purchase up to 15% of the initial number of shares offered to cover over-allotments, if any.
Proceeds from this public stock offering will be used for general corporate purposes, including to strengthen the capital of the Company and to support its strategic growth opportunities. The precise amounts and the ...