Business & Finance
Business and Finance
Business and Finance
Fri, June 17, 2011
Thu, June 16, 2011 Central Pacific Financial Corp. Announces Pricing of Secondary Offering by U.S. Department of the Treasury
Central Pacific Financial Corp. Announces Pricing of Secondary Offering by U.S. Department of... -- HONOLULU, June 16, 2011 /PRNewswire/ --
Central Pacific Financial Corp. Announces Pricing of Secondary Offering by U.S. Department of the Treasury
HONOLULU, June 16, 2011 /PRNewswire/ -- Central Pacific Financial Corp. (NYSE: [ CPF ]) (the "Company"), parent company of Central Pacific Bank ("CPB"), today announced that the United States Department of the Treasury ("Treasury") has priced an offering of 2,850,000 shares of the Company's common stock at $12.75 per share. The size of the offering was reduced from the previously announced offering of all 5,620,117 shares of the Company's common stock held by Treasury.
The Company will not receive any of the proceeds from the sale of the shares by Treasury.
Sandler O'Neill & Partners is acting as the book-running manager for the offering and C.L. King& Associates, Guzman & Company and SL Hare Capital are acting as co-managers.
A registration statement relating to the shares in this offering and shares held by certain other selling shareholders was previously filed and declared effective by the Securities and Exchange Commission ("SEC"). A post-effective amendment no. 1 and a post-effective amendment no. 2 to the registration statement have been filed with the SEC and have been declared effective.
The offering is being made by means of a prospectus only, copies of which may be obtained when available from Sandler O'Neill & Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, 1-866-805-4128, C.L. King& Associates, 410 Park Avenue, 17th Floor, New York, NY 10022, 212-421-3242, Guzman & Company, 101 Aragon Ave, Coral Gables, FL 33134, 305-374-3600 and SL Hare Capital, 10635 Santa Monica Boulevard, Suite 115, Los Angeles, CA 90025, 310-479-1680.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or state.
About Central Pacific Financial Corp.
Central Pacific Financial Corp. is a Hawaii-based bank holding company with $4.0 billion in assets as of March 31, 2011. Central Pacific Bank, its primary subsidiary, operates 34 branches, 120 ATMs, and a residential mortgage subsidiary in the state of Hawaii. For additional information, please visit the Company's website at [ http://www.centralpacificbank.com ].
SOURCE Central Pacific Financial Corp.
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[ http://www.centralpacificbank.com ]
