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Signature Bank (NASDAQ: SBNY) shares are doing something unusual, rallying on a secondary offering. On September 2, Signature announced that it was selling 3.5 million shares and would give underwriters a 525,000 over-allotment option. That morning it was at $29.00. Now, the compan announced early this morning that it priced those shares at $29.00 after closing at $30.07 yesterday. The demand was very high as it ended up selling a total of 4.7 million shares and gave the underwriters a 700,000 share over-allotment option.
Posts for Ticker ‘SBNY’
Signature Bank Defies Trends of Peers (SBNY)
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