First Niagara To Offer 33M Shares Priced At $12
Stock quotes in this article:
FNFG
LOCKPORT, N.Y. (AP) First Niagara Financial Group Inc. said it plans an offering of 33.3 million shares of common stock, from which it plans to earn $383.8 million after expenses.
The company late Thursday priced the shares at $12 each. Its stock fell 18 cents to $12 in premarket trading Friday. First Niagara has granted the underwriters of the offering a 30-day option to purchase another 5 million shares to cover possible overallotments. Keefe, Bruyette & Woods Inc. and Sandler O'Neill Partners LP are joint bookrunning managers for the offering. The company plans to use the proceeds for general corporate purposes. The transaction is expected to close Sept. 30.- Loading Comments...
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