STUART, Fla., Feb. 21, 2017 /PRNewswire/ -- Seacoast
Banking Corporation of Florida
(NASDAQ: SBCF), the parent company of Seacoast National Bank (the
"Company" or "Seacoast"), today announced the closing of the
previously announced underwritten public offering of 8,912,500
shares of its common stock. The public offering consisted of
2,702,500 shares sold by the Company and 6,210,000 shares sold by
one of its stockholders, CapGen Capital Group III LP ("CapGen"), at
the public offering price of $22.25
per share. The total number of shares sold includes the
exercise in full by the underwriters of their option to purchase an
additional 352,000 shares of common stock from the Company and to
purchase an additional 810,000 shares of common stock from
CapGen. The Company's net proceeds from the offering, after
deducting estimated underwriting discounts and commissions but
before deducting estimated offering expenses, were approximately
$56.8 million.
The Company intends to use the net proceeds from the offering
for general corporate purposes, including potential future
acquisitions and to support organic growth. The Company did
not receive any proceeds from the sale of the shares by CapGen.
Guggenheim Securities, LLC and Sandler O'Neill & Partners,
L.P. served as joint book-runners for the offering. Raymond
James & Associates, Inc. served as lead manager.
Additional Information Regarding the Offering
The common stock is being offered and sold pursuant to two
effective shelf registration statements on Form S-3 (File Nos.
333-194712 and 333-206588) filed by the Company with the Securities
and Exchange Commission ("SEC") and only by means of a prospectus
supplement and accompanying prospectus relating to the applicable
registration statement. A final prospectus supplement and a free
writing prospectus have been filed with the SEC to which this
communication relates. Prospective investors should read the final
prospectus supplement, the free writing prospectus and the
accompanying prospectuses and other documents the Company has filed
with the SEC for more complete information about the Company and
the offering. These documents are available at no charge by
visiting the SEC's website at http://www.sec.gov. Alternatively,
copies of the final prospectus supplement, the accompanying
prospectuses, and the free writing prospectus related to the
offering may be obtained by contacting: Guggenheim Securities,
LLC at Attention: Equity Syndicate Department, 330 Madison Avenue,
8th Floor, New York, NY
10017, by email at
GSEquityProspectusDelivery@guggenheimpartners.com, or by phone at
212-518-9658, or Sandler O'Neill & Partners, L.P., 1251 Avenue
of the Americas, 6th Floor, New York, New
York 10020, Attn: Syndicate Operations, or by phone at
1-866-805-4128.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any offer or sale of any securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful.
About Seacoast Banking Corporation of Florida
Seacoast Banking Corporation of Florida is one of the largest community banks
headquartered in Florida with
approximately $4.7 billion in assets
and $3.5 billion in deposits as of
December 31, 2016. The Company
provides integrated financial services including commercial and
retail banking, wealth management, and mortgage services to
customers through advanced banking solutions, 47 traditional
branches of its locally-branded wholly-owned subsidiary bank,
Seacoast Bank, and five commercial banking centers. Offices stretch
from Ft. Lauderdale, Boca Raton and West
Palm Beach north through the Daytona Beach area, into Orlando and Central
Florida, and west to Okeechobee and surrounding counties.
Cautionary Notice Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and such statements are intended to be covered by the safe harbor
provided by the same. Words such as "expects," "will," "intends,"
"anticipates," "plans," "believes," "seeks," "estimates" and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Such statements,
including but not limited to those regarding the use of the net
proceeds from the offering, are based on currently available
information and are subject to various risks and uncertainties that
could cause actual results to differ materially from Seacoast's
present expectations. These risks and uncertainties include, but
are not limited to, market conditions affecting the offering and a
deterioration in national or local economic conditions. Undue
reliance should not be placed on such forward-looking statements,
as such statements speak only as of the date on which they are
made. Seacoast undertakes no obligation to update such statements
to reflect facts, circumstances, assumptions or events that occur
after the date the forward-looking statements are made, unless
otherwise required by law. Additional information regarding the
Company and its business, including additional factors that could
cause actual results to differ materially from Seacoast's present
expectations, is contained in Seacoast's Annual Report on Form 10-K
for the year ended December 31, 2015
under "Forward-Looking Information" and Item 1A. "Risk Factors,"
and in the Company's other filings with the SEC.
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visit:http://www.prnewswire.com/news-releases/seacoast-announces-closing-of-common-stock-offering-and-full-exercise-of-underwriters-option-to-purchase-additional-shares-300410909.html
SOURCE Seacoast Banking Corporation of Florida