WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. (“Bancorp” or the “Company”) (NASDAQ: TBBK) announced
today that it has commenced a public offering for $50 million of its
common stock. The shares will be issued pursuant to a prospectus
supplement filed as part of an existing shelf registration statement
filed with the Securities and Exchange Commission (“SEC”) on Form S-3
(File No. 333-185226). The Company expects to use the net proceeds from
this offering for general corporate purposes, including the support of
its ongoing and future anticipated growth.
Sandler O’Neill + Partners, L.P. is acting as the book-running manager
and Sterne, Agee & Leach, Inc. is acting as co-manager for the offering.
The underwriters will have a 30-day option to purchase up to an
additional 15% of the offered amount of common stock from Bancorp to
cover over-allotments, if any.
Bancorp has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates.
Prospective investors should read the prospectus in that registration
statement, the preliminary prospectus supplement and other documents
that the Company has filed with the SEC for more complete information
about the Company and the offering. Investors may obtain these documents
without charge by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, copies of the preliminary prospectus supplement and the
prospectus relating to the offering may be obtained from Sandler O’Neill
+ Partners, 1251 Avenue of The Americas, 6th Floor, New York, NY 10020,
(866) 805-4128.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, 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 any such jurisdiction.
About Bancorp
The Bancorp, Inc. is a financial holding company that operates The
Bancorp Bank, an FDIC-insured commercial bank that delivers a full array
of financial services and products both directly and through
private-label affinity partner programs nationwide. The Bancorp Bank’s
regional community bank division serves the needs of small and mid-size
businesses and their principals in the Philadelphia-Wilmington region.
Cautionary Statement Regarding Forward Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements made in this press release regarding Bancorp which
are not historical facts are “forward looking statements” that involve
risks and uncertainties. These risks and uncertainties, which could
cause actual results to differ materially from those contained in the
forward looking statement, include those discussed in Bancorp’s filings
with the SEC, including the “risk factors” section of the prospectus
supplement. Bancorp does not undertake to update forward-looking
statements in this press release or with respect to matters described
herein, except as may be required by law.
The Bancorp, Inc.
Andres Viroslav, 215-861-7990
andres.viroslav@thebancorp.com
or
Sandler
O’Neill + Partners, L.P.
Syndication Department, 866-805-4128
Source: The Bancorp, Inc.