Business News • MarketWire • Customers Bancorp Announces Pricing of Public Offering of Preferred Stock |
Customers Bancorp Announces Pricing of Public Offering of Preferred Stock |
|
|
Customers Bancorp Announces Pricing of Public Offering of Preferred Stock
WYOMISSING, PA--(Marketwired - September 09, 2016) - Customers Bancorp, Inc. (the "Company") (NYSE: CUBI), the parent company for Customers Bank, today announced the pricing of its public offering of 3,000,000 shares of the Company's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (the "Series F Preferred Stock") at a price of $25.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 450,000 shares of Series F Preferred Stock from the Company at the public offering price less the underwriting discount. Dividends on the Series F Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 6.00% from the original issue date to, but excluding, December 15, 2021, and thereafter at a floating rate per annum equal to three-month LIBOR on the related dividend determination date plus a spread of 4.762% per annum.
View More : http://www.marketwired.com/mw/release.do?id=2157210&sourceType=3
|
|
|