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Wilshire Bancorp Inc. Message Board

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  • cohsgrad cohsgrad May 9, 2011 4:40 PM Flag

    Public Offering

    No we do not know the price yet.

    Does anyone understand the following:

    The underwriters have reserved for sale, at the public offering price, up to 7.5% of the shares of our Common Stock being offered for sale to persons who are employees, officers, directors and individuals having a relationship with us through a directed share program. We will offer these shares to the extent permitted under applicable laws or regulations. The number of shares available for sale to the general public in this offering will be reduced to the extent these persons purchase reserved shares. Any reserved shares not purchased will be offered by the underwriters to the general public on the same terms as the other shares.

    I can't say I'm surprised that they went with $100 million but they had better not give those shares away.

    Do not know what reserving 7.5% for employees and directors and those having a directed share program with them means. I sure hope it doesn't mean those who hold in street name are excluded. That would be a real slap in the face of their shareholders.

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