Underwriters Stifel Nicolaus, Sandler O'Neill also have 15% greenshoe
By Devika Patel
Knoxville, Tenn., June 30 - TrustCo Bank Corp NY priced a public sale for $62.56 million of stock in a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal was announced June 8 and has a 15% greenshoe for $9.38 million.
The company will sell 13.6 million common shares at $4.60 apiece. The price per share reflects a 7.63% discount to the June 29 closing share price of $4.98.
Stifel Nicolaus Weisel and Sandler O'Neill & Partners, LP are the underwriters.
Settlement is expected July 6.
Proceeds will be used for general corporate purposes, including investment in bank subsidiary Trustco Bank's capital.
The savings and loan holding company is based in Glenville, N.Y.
| Issuer: | TrustCo Bank Corp NY
|
| Issue: | Common stock
|
| Amount: | $62.56 million
|
| Greenshoe: | 15%, or $9,384,000
|
| Shares: | 13.6 million
|
| Price: | $4.60
|
| Warrants: | No
|
| Underwriters: | Stifel Nicolaus Weisel, Sandler O'Neill & Partners, LP
|
| Announcement date: | June 8
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Stock symbol: | Nasdaq: TRST
|
| Stock price: | $4.98 at close June 29
|
| Market capitalization: | $380.64 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
