Thomas Weisel Partners Group
gained Thursday as the San Francisco-based investment bank made a public offering of 5.35 million of shares of its common stock at $22 apiece.
Of the shares being offered, the company is selling 2.78 million shares and certain stockholders are selling 2.57 million shares. The company said it expects to use the roughly $57 million in net proceeds from its share of the offering for general corporate purposes. The stock gained $1.58, or 7.1%, to $23.91 in recent trading.
climbed slightly after the St Louis-based securities broker-dealer said its board declared a regular quarterly cash dividend of 20 cents a share, payable on July 3 to stockholders of record June 9. Shares gained 70 cents, or 1.4%, to $51.84 in recent trading.