Wilmington Trust Announces Pricing of Public Offering of Common Stock
February 23 2010 - 8:36PM
Business Wire
Wilmington Trust Corporation (NYSE: WL) announced today that it
has priced an underwritten public offering of 18,875,000 shares of
its common stock at $13.25 per share. The proceeds from the
offering, net of underwriting discounts, will be $238,221,375,
which will qualify as both tangible common equity and regulatory
Tier 1 capital and will be used for general corporate purposes.
This may include the redemption of preferred stock issued to the
U.S. Treasury under the TARP Capital Purchase Program, subject to
regulatory approval.
J.P. Morgan Securities Inc. and Keefe, Bruyette & Woods,
Inc. are serving as joint book-running managers for the
offering.
Wilmington Trust has granted the underwriters a 30-day option to
purchase up to an additional 2,831,250 shares of common stock to
cover over-allotments, if any. Offers may be made only by means of
a prospectus and a related prospectus supplement. Copies of the
prospectus and related prospectus supplement with respect to this
offering may be obtained from J.P. Morgan Securities Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, Attention: Prospectus Department, or by calling
866-803-9204.
Wilmington Trust has filed a registration statement (File No.
333-147694), including a prospectus, with the Securities and
Exchange Commission (SEC) for the offering to which this
communication relates. Before investing, investors should read the
prospectus in that registration statement and the other documents
Wilmington Trust has filed with the SEC for more complete
information about Wilmington Trust and this offering. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Wilmington Trust
Wilmington Trust Corporation (NYSE: WL) is a financial services
holding company that provides Regional Banking services throughout
the mid-Atlantic region, Wealth Advisory services for
high-net-worth clients in 36 countries, and Corporate Client
services for institutional clients in 89 countries. Its wholly
owned bank subsidiary, Wilmington Trust Company, which was founded
in 1903, is one of the largest personal trust providers in the
United States and the leading retail and commercial bank in
Delaware. Wilmington Trust Corporation and its affiliates have
offices in Arizona, California, Connecticut, Delaware, Florida,
Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt,
Luxembourg, and Amsterdam.
Forward-looking statements
This press release includes forward-looking statements within
the meaning of the “Safe-Harbor” provisions of the Private
Securities Litigation Reform Act of 1995, which management believes
are a benefit to shareholders. These statements are necessarily
subject to risk and uncertainty and actual results could differ
materially due to various risk factors, including those set forth
from time to time in our filings with the SEC. You should not place
undue reliance on forward-looking statements and we undertake no
obligation to update any such statements. In this press release we
make forward-looking statements about our ability to raise common
capital, the amount of capital we intend to raise, and our use of
that capital. Specific risks that could cause results to differ
from the forward-looking statements are set forth in our filings
with the SEC and include, without limitation, negative reaction to
our public offering and unfavorable pricing of the offering.
Wilmington (NYSE:WL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wilmington (NYSE:WL)
Historical Stock Chart
From Jul 2023 to Jul 2024