Luther Burbank Corporation Announces Closing of Initial Public Offering and Exercise of Underwriters’ Over-Allotment Option
Luther Burbank Corporation (LBC)
Last luther burbank corporation earnings: 1/28 04:00 pm
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US:NYSE Investor Relations:
ir.lutherburbanksavings.com/investor-relations
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Source: GlobeNewswire
SANTA ROSA, Calif., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Luther Burbank Corporation (NASDAQ:LBC) (“the Company”) announced today the closing of the initial public offering of its common stock. The Company sold 13,972,500 shares at a public offering price of $10.75 per share, including 1,822,500 shares of common stock subject to the underwriters’ over-allotment option, which was exercised in full. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $138.4 million. Keefe, Bruyette & Woods, Inc. and Sandler O’Neill + Partners, L.P. acted as joint bookrunners for the offering. Piper Jaffray & Co. acted as a lead manager and D.A. Davidson & Co. acted as a co-manager. A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (File No. 333-221455). The offering has been made solely by means of the written prospectus
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