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) 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

Quick Facts

Editors Pick
Private equity firm Blackstone Group LP is exploring options for a potential initial public offering of Gates Global LLC, Reuters reported, citing people familiar with the matter. As per the report, an IPO, which could occur as soon as 2018, could value Gates at more than $7 billion. Apple Inc. is working on a self-driving shuttle service to ferry employees within its sprawling campus, the New York Times reported. The move comes after the tech giant decided to abandon the idea of building an entire self-driving car by itself. Women who are between 25 and 34 years old are losing the race in the U.S. when it comes to pay equality with men, data from the Bureau of Labor Statistics showed. This is despite the rapid increase in participation of women in the labor force.
comments powered by Disqus
RELATED NEWS
Trade SNV now with 
Follow RTT