Simpson Thacher Represents Underwriters in Initial Public Offering by Capital Bank Financial Corp.
09.27.12
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Simpson Thacher represented the underwriters, led by Credit Suisse Securities (USA) LLC and BofA Merrill Lynch, in the initial public offering by Capital Bank Financial Corp. and certain selling stockholders of an aggregate of 10,000,000 shares of Capital Bank Financial’s Class A common stock. The offering raised aggregate net proceeds of approximately $163.7 million for Capital Bank Financial and the selling stockholders. The offering closed on September 25, 2012. Capital Bank Financial’s Class A common stock is listed on The Nasdaq Global Select Market under the symbol “CBF.”
Capital Bank Financial is a bank holding company incorporated in late 2009 with the goal of creating a regional banking franchise in the southeastern region of the United States through organic growth and acquisitions of other banks, including failed, underperforming and undercapitalized banks. It has acquired six depository institutions, including the assets and certain deposits of three failed banks from the FDIC. As of June 30, 2012, and after giving pro forma effect to the expected acquisition of Southern Community Financial in the fourth quarter of 2012, it operated 165 branches in Tennessee, Florida, North Carolina, South Carolina and Virginia. Through its branches, it offers a wide range of commercial and consumer loans and deposits, as well as ancillary financial services.
The Simpson Thacher team included Lee Meyerson, Lesley Peng, Xavier Kowalski, Frank Kwok, A. Reid Monroe-Sheridan, Yue Zhang and Fan Wei (Capital Markets); Stacie McGinn and Mark Chorazak (Bank Regulatory); Adam Wells (Tax); Jamin Koslowe and Jeannine McSweeney (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).