Bridge Bancorp (BDGE) Prices 1.61M Share Stock Offering for Proceeds of ~$50M
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Bridge Bancorp, Inc. (Nasdaq: BDGE) announced the pricing of an underwritten public offering of 1,613,000 shares of common stock at a price of $31.00 per share, for gross proceeds of approximately $50.0 million. After deducting the underwriting discount and estimated offering expenses, the Company expects to receive net proceeds of approximately $47.6 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 241,950 shares of common stock at the same price and on the same terms and conditions.
The offering is expected to close on November 28, 2016, subject to customary closing conditions.
Sandler O’Neill + Partners, L.P. and Keefe, Bruyette & Woods, A Stifel Company, served as joint book-running managers for the offering. The shares are being issued pursuant to a prospectus supplement and prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3 (File No. 333-210245).
The Company expects to use the net proceeds of this offering to support organic growth, the pursuit of strategic acquisition opportunities and other general corporate purposes, including contributing capital to The Bridgehampton National Bank.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Caterpillar (CAT) Offers FY17 Guidance Update at Credit Suisse Conference
- Atkore International Group (ATKR) Files 8M Share Common Stock Shelf for Shareholder
- UPDATE: Global Eagle Entertainment (ENT) to Obtain New Credit Facilities; Company in Discussions to Acquire Related Business, Satellite Transponders
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesStifel, Keefe, Bruyette & Woods, S3, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!