Cathay General Bancorp (CATY) Sees Gross Proceeds of $70.5M from Public Offering

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October 12, 2009 4:13 PM EDT

Cathay General Bancorp (Nasdaq: CATY) today announced that it has commenced a public offering for gross proceeds up to $70.5 million of its common stock.

The Company has granted the underwriter a 30-day option to purchase up to an additional $10.5 million of its common stock to cover over-allotments, if any. BofA Merrill Lynch is acting as sole bookrunner for the offering.