Customers Bancorp, Inc. announced the launch of an underwritten public offering of $150,000,000 of its voting common stock.
The company intends to use the net proceeds for general corporate purposes to support organic growth and strategic initiatives.
Key underwriters for the offering include Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James & Associates.
Offering Details
$150,000,000 underwritten public offering of voting common stock.
Use of Proceeds
Utilizing the net proceeds for general corporate purposes such as refinancing, repurchasing shares, and funding growth initiatives.
Underwriters
Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James & Associates serving as joint book-running managers for the offering.
- Customers Bancorp plans to use the proceeds for strategic growth initiatives to enhance its position in the market and strengthen its financial standing.
- The offering signifies the company's commitment to expanding its operations and driving long-term value for shareholders.
The launch of the voting common stock offering marks a significant step for Customers Bancorp as it aims to fuel its growth and advance its strategic objectives in the banking sector.