Seacoast Announces Effectiveness Of Resale Registration Statements Covering Privately Placed Shares Of Common Stock
STUART, Fla., July 22 /PRNewswire-FirstCall/ -- Seacoast Banking Corporation of Florida (the "Company") (Nasdaq: SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank (the "Bank"), announced today that registration statements covering the shares of Company Common Stock sold in private placement have been declared effective by the SEC timely and in accordance with the Company's agreements with its investors. These include shares issued by the Company in connection with its $50 million private placement of permanent equity capital on April 9, 2010.
Dennis S. Hudson, III, Chairman and CEO of the Company, stated "Seacoast was pleased to have raised the capital in the April offering, and with the continued support of the investors in that offering, including CapGen Financial. The registration of shares sold in private placements is a customary requirement that enables various of our institutional shareholders to meet their legal and policy limits on the amounts of 'restricted securities' they may hold at any time. This recent offering and the completion of these registration statements demonstrates the Company's ability to effectively execute capital markets transactions quickly and effectively."Robert Goldstein, a director of Seacoast and a principal of CapGen, which is the Company's largest shareholder, commented: "We are delighted with our investment in the Company and bought additional shares in the April offering." Seacoast Banking Corporation of Florida has approximately $2.2 billion in assets. It is one of the largest independent commercial banking organizations domiciled in Florida, and is headquartered on Florida's Treasure Coast. Cautionary Notice Regarding Forward-Looking Statements Certain of the statements made herein are "forward-looking statements," within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.
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