Signature Bank, a full service commercial bank, has announced an underwritten public offering of 3.50 million shares of its common stock.
The bank will also grant to the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from the bank to cover over-allotments, if any.
Friedman, Billings, Ramsey & Company, is expected to act as lead manager in the offering. Oppenheimer & Company and Sandler O’Neill + Partners are expected to act as co-managers.