Rochester, NY 8/19/2009 9:27:27 AM
Umpqua Holdings Corporation UMPQ - UMPQUA Holdings Corporation Announces its Underwritten Public Offering of $225 Million
Umpqua Holdings Corporation UMPQ
Umpqua Holdings Corp. announced that it has increased the amount of common stock to be sold in its underwritten public offering to $225 million, and priced the offering at $9.75 per share, for a total of approximately 23.1 million shares of common.
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The proceeds from the offering, after deducting underwriting discounts and commissions and offering expenses, will qualify as tangible common equity and Tier 1 capital and will be used for general corporate purposes, which may include capital to support growth and acquisition opportunities and to position the Company for eventual redemption of preferred stock.
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