STUART, Fla., Nov. 13, 2013 /PRNewswire/ -- Seacoast Banking Corporation of Florida (the "Company") (NASDAQ-NM: SBCF), the holding company for Seacoast National Bank, announced that it closed yesterday on the sale of $50 million of its common stock to various investors in its previously announced registered direct public offering. The closing of the remaining $25 million to CapGen Capital Group III, LP will occur immediately following regulatory approval by the Federal Reserve, which is expected in December 2013.
Hovde Group, LLC acted as the placement agent in connection with the registered direct public offering.
The shares of common stock were sold pursuant to a shelf registration statement and accompanying base prospectus (File No. 333-185660), which was declared effective by the United States Securities and Exchange Commission (the "SEC") on
February 14, 2013, and a prospectus supplement. This press release is for informational purposes only, and shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Seacoast Banking Corporation of Florida
Seacoast Banking Corporation of Florida is a financial services company and a registered bank holding company with approximately $2.1 billion in assets and $1.7 billion in deposits as of September 30, 2013, based in Stuart, Florida. Incorporated in 1986, the Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to our customers through our locally-branded wholly-owned subsidiary bank, Seacoast National Bank. More information about the Company is available at http://www.seacoastbanking.net.Cautionary Notice Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be protected by the safe harbor provided therein. Such statements include, without limitation, the anticipated receipt of regulatory approval for the purchase of our shares by an investor.