United Community Banks prices 38.7M shares
United Community Banks prices public offering of 38.7M shares at $5 per share
- On 8:56 am EDT, Friday September 25, 2009
BLAIRSVILLE, Ga. (AP) -- United Community Banks Inc. said Friday it priced a public offering of 38.7 million shares at $5 per share for proceeds of $193.5 million.
Underwriters have 30 days to buy up to an additional 5.8 million shares to cover any overallotments.
Sandler O'Neill & Partners and SunTrust Robinson Humphrey are serving as joint bookrunning managers for the offering, and Raymond James & Associates is serving as co-manager.
The sale will close on Wednesday.
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