Signature Bank Announces Public Offering of 4.1M Shares of Common Stock

Signature Bank SBNY announced today an underwritten public offering of 4.1 million shares of its common stock. The Bank will also grant to the underwriters a 30-day option to purchase up to 615,000 additional shares of common stock to cover overallotments, if any. BofA Merrill Lynch is expected to act as sole book-running manager in the offering. Barclays Capital and J.P. Morgan are expected to act as co-managers.