Sandler O'Neill is underwriter for deal; shares sold at $18.25 apiece
By Devika Patel
Knoxville, Tenn., Oct. 29 - Eagle Bancorp, Inc. said it will raise $10.07 million in an offering of stock. The company also said it completed its $35 million discretionary equity sales program with agent Sandler O'Neill + Partners, LP, which was announced as a $35 million offering on May 1.
In the latest offering, the company will sell 552,012 common shares at $18.25 per share, a 1.35% discount to the Oct. 26 closing share price of $18.50.
Settlement is expected Oct. 31. Sandler O'Neill + Partners is the underwriter.
In the equity sale with Sandler, the company sold 2,052,074 common shares in open market trading at an average weighted price of $17.0559 per share.
Sales were made through ordinary brokers' transactions on the Nasdaq Capital Market at market prices, prices related to the prevailing market prices or negotiated prices.
Eagle Bancorp is the Bethesda, Md., bank holding company for EagleBank, a commercial and consumer bank.
| Issuer: | Eagle Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $10,074,219
|
| Shares: | 552,012
|
| Price: | $18.25
|
| Warrants: | No
|
| Underwriter: | Sandler O'Neill + Partners, LP
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Stock symbol: | Nasdaq: EGBN
|
| Stock price: | $18.50 at close Oct. 26
|
| Market capitalization: | $419.2 million
|
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