PITTSFIELD, Mass., May 22, 2017 /PRNewswire/ -- Berkshire Hills
Bancorp, Inc. (NYSE: BHLB) (the "Company") announced today
the pricing of an underwritten public offering of 4,637,690 shares
of the Company's common stock at a price to the public of
$34.50 per share resulting in net
proceeds to the Company of approximately $152.9 million, after deducting the underwriting
discount and commissions and other estimated offering expenses. The
Company intends to use the net proceeds from the offering for
general corporate purposes. Sandler O'Neill + Partners, L.P.
is serving as the sole active book-running manager and Piper Jaffray is serving as the passive
book-running manager for the offering.
Additional Information Regarding the Offering
The offering of common stock is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-207429) filed by the Company with the Securities and Exchange
Commission ("SEC") and only by means of a prospectus supplement and
accompanying base prospectus. A preliminary prospectus supplement
has been filed with the SEC to which this communication relates.
Prospective investors should read the preliminary prospectus
supplement and the accompanying base prospectus and the documents
incorporated by reference therein for more complete information
about the Company and the offering. Copies of the preliminary
prospectus supplement, the final prospectus supplement, when
available, and the accompanying base prospectus relating to the
common stock offering can be obtained without charge by visiting
the SEC's website at www.sec.gov, or may be obtained from Sandler
O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor,
New York, New York 10020, Attn:
Syndicate Operations, Telephone Number: 1-866-805-4128.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any
securities of the Company, which is made only by a prospectus
supplement and accompanying base prospectus, nor will there be any
sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offering of the common stock is being made only
by means of a written prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended. Any
offering of the common stock is being made only by means of a
written prospectus, meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
ABOUT BERKSHIRE
HILLS
Berkshire Hills Bancorp, Inc. is the parent of Berkshire Bank –
America's Most Exciting Bank®. As of March
31, 2017, the Company has approximately $9.3 billion in assets and 97 full-service branch
offices in Massachusetts,
New York, Connecticut, Vermont, Pennsylvania and New
Jersey providing personal and business banking, insurance,
and wealth management services. The Company also offers
mortgages and specialized commercial lending services in targeted
national markets. The Company has a pending agreement to
acquire Commerce Bancshares Corp., the parent company of Commerce
Bank and Trust Company, a $2.2
billion bank with 16 branches in the Worcester, MA and Boston, MA markets.
FORWARD LOOKING STATEMENTS
This document contains forward-looking statements within the
meaning of section 27A of the Securities Act of 1933, as amended,
and section 21E of the Securities Exchange Act of 1934, as amended,
and we intend such forward-looking statements to be covered by the
safe harbor provisions therein and are included in this statement
for purposes of invoking these safe harbor provisions.
Forward-looking statements are not guarantees, and they involve
risks, uncertainties and assumptions. There are several factors
that could cause actual results to differ significantly from
expectations described in the forward-looking statements. We
caution investors not to rely unduly on any forward-looking
statements and urge you to carefully consider the risks identified
in our public filings with the SEC, which are available on the
SEC's website at www.sec.gov. The Company does not undertake any
obligation to update forward-looking statements.
All written or oral forward-looking statements that we make, or
that are attributable to us, are expressly qualified by this
cautionary notice. Except to the extent required by applicable laws
and regulations, we undertake no obligations to update these
forward-looking statements to reflect events or circumstances after
the date of this release or to reflect the occurrence of
unanticipated events.
CONTACTS
Allison O'Rourke; Executive Vice
President, Investor Relations Officer; 413-236-3149
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SOURCE Berkshire Hills Bancorp, Inc.