United Community Banks, Inc. UCBI had several significant developments after the close last night as the company finally unveiled its capital plan, KBW reports.
“UCBI raised $380 million in common and convertible preferred stock at $1.90 per share and announced the plans to accelerate the sale of $435 million in problem assets for about another 52% in losses,” KBW writes.
United Community Banks closed Wednesday at $1.53.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in