United Western Bancorp (UWBK) Announces 1.9M Share Offering at $4/Share
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United Western Bancorp, Inc. (Nasdaq: UWBK) announced today the issuance of 1,961,325 shares of its common stock at a price of $4.00 per share, for total gross proceeds of approximately $7.8 million.
United Western Bancorp expects to use the proceeds from the offering to support the growth and related regulatory capital needs of United Western Bank(R) and to repay indebtedness under its revolving line of credit, with any remainder for strategic acquisitions and general working capital purposes.
Sandler O'Neill + Partners, L.P. acted as the lead manager for the offering. FBR Capital Markets & Co. and Sterne, Agee & Leach, Inc. served as co-managers.
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