WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. (“Bancorp” or the “Company”) (NASDAQ: TBBK) announced
today that it has priced a public offering of 4.0 million shares of
common stock at $11.00 per share for gross proceeds of approximately
$44.0 million. The Company expects to close the sale of the shares on or
about December 21, 2012, subject to customary closing conditions.
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 600,000 shares of common stock from Bancorp to cover
over-allotments, if any.
Bancorp has filed a registration statement (including a prospectus and
prospectus supplement) with the SEC for the offering to which this
communication relates. Prospective investors should read the prospectus
in that registration statement, the 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 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.