Columbia Banking System (COLB) Announces Pricing of $104 Million At $12.25 A Share
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Columbia Banking System, Inc. (Nasdaq: COLB) announced the pricing of an underwritten public offering of 8,500,000 shares of the Company's common stock at a price to the public of $12.25 per share for gross proceeds of approximately $104 million.
The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $98.6 million. Keefe, Bruyette & Woods, Inc. is acting as lead book-running manager of the offering, and D.A. Davidson & Co. is a co-manager.
Columbia Banking System has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock to cover over-allotments, if any.
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