BNC Bancorp ((BNCN) Files $40 Million Common Stock Offering

October 23, 2009 11:20 AM EDT

BNC Bancorp (Nasdaq: BNCN) the holding company for Bank of North Carolina, filed a registration statement with the Securities and Exchange Commission on October 23, 2009, relating to $40 million of common stock. The registration statement indicates the common stock will be offered in a fully underwritten offering through Sandler O'Neill & Partners, L.P. Sandler O'Neill & Partners, L.P. will serve as lead book-running manager. BNC Bancorp intends to grant the underwriter a 30-day option to purchase additional shares of common stock to cover over-allotments, if any.

Net proceeds to BNC Bancorp are expected to be used for general corporate purposes.
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