Pacific Continental (PCBK) Announces $35M Offering of Common Stock
Pacific Continental Corporation (Nasdaq: PCBK) today announced that it has commenced an offering of approximately $35 million of its common stock in an underwritten public offering.
D.A. Davidson & Co. is serving as lead book-running manager of the offering, and Howe Barnes Hoefer & Arnett is serving as co-manager.
The Company intends to use the net proceeds from the offering for general corporate purposes including organic growth and opportunistic acquisitions.
The Company intends to grant the underwriters a 30 day option to purchase up to an additional 15% of the common stock sold in the offering to cover over-allotments, if any.
Pacific Continental Corporation is the holding company for Pacific Company Bank.
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