logo
Share SHARE
FONT-SIZE Plus   Neg

Synovus Financial Prices Public Offering Of 59.87 Mln Shares At $3.09/shr

Synovus Financial Corp. (SNV: Quote) announced it has priced a public offering of 59.87 million shares of its common stock at $3.09 per share. The offering will generate net proceeds of about $175 million. The closing date for the transaction is expected to be July 24, 2013.

The company said it intends to use the net proceeds of this offering, the net proceeds of a planned $130 million preferred stock offering and a $680 million dividend from its subsidiary bank to redeem all of the 967,870 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, issued to the United States Department of the Treasury pursuant to the Capital Purchase Program as part of its Troubled Asset Relief Program.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple Watch is expected to post robust sales in the first weekend after its launch on April 24. A craze for Apple Watch may catapult the smartwatch industry into a lucrative market, while a not-so-impressive response for the Apple device may weigh on the industry. Fast food giant McDonald's Corp. (MCD), in a bid to boost slowing sales, is all set to make changes to its grilled chicken recipe by removing ingredients that may sound like chemicals to customers. The news was first reported by Associated Press, which said the new Artisan Grilled Chicken will no... GoDaddy Inc (GDDY) shares surged in its debut on the New York Stock Exchange following a successful initial public offering. GoDaddy, a technology provider dedicated to small businesses, priced its IPO of 23 million Class A shares at $20.00 each, above its estimated range of $17 to $19 per share. All...
comments powered by Disqus
RELATED NEWS
Trade SNV now with 
Follow RTT