Signature Bank (SBNY) Prices Upsized 2.5M Share Offering at $232/sh

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the upsize and pricing of its underwritten offering of 2,500,000 shares of common stock at $232 per share. The offering was upsized from the previously announced offering size of 2,100,000 shares of common stock. The Bank has also granted to the underwriters a 30-day option to purchase up to 375,000 additional shares of common stock. The Bank intends to use the proceeds from the offering for general corporate purposes.

Morgan Stanley and BofA Securities are acting as the bookrunners in the offering. Closing of the offering is expected to occur on or about July 23, 2021, subject to customary closing conditions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any State in which any such offer, solicitation or sale would be unlawful. The offering will be made only by means of an offering circular.

Copies of the offering circular may be obtained from:

• Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or
• BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28555, Attention: Prospectus Department or by e-mail at [email protected].

The securities are not deposits and are neither insured nor approved by the FDIC. The securities are being offered pursuant to an exemption from registration under the Securities Act of 1933 provided by Section 3(a)(2) of such Act.

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