BOCA RATON, Fla., Nov. 23, 2010 /PRNewswire-FirstCall/ -- (Nasdaq: FUBC) — 1st United Bancorp, Inc. ("1st United"), today announced that it has filed with the Securities and Exchange Commission a universal shelf registration statement on Form S-3 providing for the offer and sale from time to time of up to $100 million of securities, including equity, debt and other securities as described in the registration statement. Specific terms and prices will be determined at the time of each offering under a separate prospectus supplement, which will be filed with the SEC at the time of any offering.
"While we have no definitive plans to raise capital at this time, we believe this registration statement will enhance our ability to quickly raise capital at a later date," said Rudy E. Schupp, Chief Executive Officer. "We continue to be well positioned to take advantage of both organic and acquisition growth opportunities and we believe this shelf registration will provide us with added flexibility to access the capital markets, if needed."
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, no shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of the securities covered under the shelf registration will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offer.