Benzinga | Feb 5, 2021 05:17AM EST

Signature Bank Priced 3.5M Share Public Stock Offering: Price Not Mentioned in Press Release; Shares Trading @$180.65 in Premarket

Signature Bank (NASDAQ:SBNY) announced today the pricing of its underwritten offering of 3,500,000 shares of common stock. The Bank has also granted to the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock. The Bank intends to use the proceeds from the offering for general corporate purposes.

Goldman Sachs & Co. LLC, Morgan Stanley and Jefferies are acting as the bookrunners in the offering. Closing of the offering is expected to occur on or about February 8, 2021, subject to customary closing conditions.