Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 1:54 AM
|This Slide: #19 of 573|
Slide #19. ConnectOne Bancorp, Inc. — Preferred Stock Offering
ConnectOne Bancorp, Inc. (NASDAQ:CNOB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
ConnectOne Bancorp, Inc. (NASDAQ: "CNOB"), (the "Company"), the holding company for ConnectOne Bank (the "Bank"), announced today that it has priced a public offering of 4,000,000 depositary shares with a liquidation preference of $25.00 per share (the "Depositary Shares"), for gross proceeds of $100,000,000 before deducting underwriting discounts and other estimated offering expenses. Each Depositary Share represents a 1/40th interest in a share of the Company's 5.25% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 600,000 Depositary Shares. The Company intends to list the Depositary Shares on The Nasdaq Global Select Market under the symbol "CNOBP." The offering is subject to customary closing conditions and is expected to close on or about August 19, 2021.
ConnectOne Bancorp is a bank holding company. Through its subsidiaries, Co. provides a suite of deposit and loan products and services to the general public and, in particular, to small and mid-sized businesses, local personnel and individuals residing, working and conducting business in the Northern New Jersey and New York Metropolitan area. Co. provides an array of other banking services. Products and services provided include personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, credit cards, wire transfers, access to automated teller services, internet banking, Treasury Direct, ACH origination, and mobile banking by phone.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 94% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com