Deal Details
Follow-On Offering
Summary
Baird served as the sole book-running manager in this offering.
About
Sandy Spring Bancorp, Inc. (NASDAQ: SASR) (“Sandy Spring” or the “Company”) recently completed a 7,475,000 share follow-on offering of its common stock at $13.50 per share, generating gross proceeds of approximately $101 million. Sandy Spring expects to use the net proceeds from this offering for general corporate purposes which may include, among other uses, repurchasing the Series A Preferred Stock and the warrant issued to the U.S. Treasury pursuant to the Company's participation in the U.S. Treasury's TARP Capital Purchase Program.With $3.6 billion in assets, Sandy Spring Bancorp, Inc. is the holding company for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance Corporation, The Equipment Leasing Company and West Financial Services, Inc. Sandy Spring is the oldest and largest publicly traded banking company headquartered and operating in Maryland. Sandy Spring is a community banking organization that focuses its lending and other services on businesses and consumers in the local market area. Independent and community-oriented, Sandy Spring Bank was founded in 1868 and offers a broad range of commercial banking, retail banking and trust services through 43 community offices in Anne Arundel, Carroll, Frederick, Howard, Montgomery, and Prince George's counties in Maryland, and in Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy Spring Bank also offers a comprehensive menu of leasing, insurance and investment management services.
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- Date
- March 2010
- Company
- Sandy Spring Bancorp, Inc.
- Transaction
- M&A
- Sectors
- Technology & Services
- Target Geography
- North America
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