National Penn's $140M stock offering complete

National Penn Bancshares completes $140M stock offering

• On 4:47 pm EDT, Tuesday September 15, 2009

BOYERTOWN, Pa. (AP) -- National Penn Bancshares Inc. said Tuesday it closed its public offering of 26.7 million shares of its common stock at $5.25 per share.

The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be about $133.1 million.

The shares sold do not include about 4 million shares which may be purchased by the underwriters within 30 days pursuant to their over-allotment option.

National Penn's shares closed 20 cents higher, or 3 percent, at $6.45.

They fell 2 cents in after market trading.