Metro Bancorp will sell $75 million in stock offer
Metro Bancorp will sell around $75 million in stock for public offering
- On 8:32 am EDT, Monday September 21, 2009
HARRISBURG, Pa. (AP) -- Bank holding company Metro Bancorp Inc. said Monday it will sell around $75 million in stock in a public offering.
Sandler O'Neill & Partners and RBC Capital Markets are acting as co-book running managers for the offering.
The underwriters will have 30 days to buy up to an additional 15 percent of the shares sold to cover any overallotments.
Metro, which is the holding company for Metro Bank, will use proceeds from the offering for general corporate purposes.
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