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Article: Citizens South Banking Corporation Announces Commencement of $30 Million Common Stock Offering.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Citizens South Banking Corporation (NASDAQ:CSBC), announced that it has commenced a public offering of approximately $30 million in common stock. Keefe, Bruyette & Woods will act as lead book-running manager, with Sandler O'Neill + Partners, L.P. and Howe Barnes Hoefer & Arnett, Inc. acting as co-managers. Citizens South Banking 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.
Citizens South intends to use the net proceeds for general corporate purposes and may contribute some portion of the net proceeds in the form of capital to Citizens South Bank, which will use any ...