Seacoast Banking announces pricing of public offering

Seacoast Banking Corporation of Florida has priced a public offering of 29.3 million shares of common stock to the public at $2.25 per share for total gross proceeds of approximately $66 million.

The company expects to close the sale of the shares of common stock on August 19, 2009, subject to customary closing conditions.

The underwriters will have a 30-day option to purchase up to an additional 4.375 million shares of common stock from the company at the public offering price, less underwriters' discounts and commissions.

Sandler O'Neill & Partners LP is acting as the lead book-running manager for the underwritten offering, and Fox-Pitt Kelton Cochran Caronia Waller is acting as the co-manager.

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Related terms: banking, book, public offering