REPEAT/BankAtlantic Bancorp Closes On 900,000 Share Underwriters' Over-Allotment Option.Business Editors REPEATING...Due to Formatting FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Dec. 27, 2001 BankAtlantic Bancorp, Inc. (NYSE NYSE See: New York Stock Exchange :BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) ), the parent company of BankAtlantic, Levitt Corporation and Ryan, Beck & Co., announced today that it has completed the sale of an additional 900,000 shares of Class A Common Stock to the underwriters of its previously completed 6 million share public offering pursuant to the exercise of the underwriters' over-allotment option. With the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $7 million from the sale of these additional shares, the offering raised total net proceeds of approximately $53.4 million after underwriting discounts and commissions and expenses. The net proceeds will be used to contribute to the capital of its subsidiary, BankAtlantic, to finance a portion of the purchase price of its proposed acquisition of Community Savings Bankshares, Inc. and for general corporate purposes. About BankAtlantic Bancorp: BankAtlantic Bancorp (NYSE:BBX) is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services holding company and the parent company of BankAtlantic, Levitt Corporation and Ryan, Beck & Co. Through its subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking, and real estate development. BankAtlantic is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community branches throughout Florida and its online banking division - BankAtlantic.com. Levitt Corporation includes Levitt and Sons, Core Communities and Levitt Commercial. Levitt and Sons: America's oldest homebuilder and first to build planned suburban communities, currently develops single-family homes in its active adult residential developments throughout Florida. Core Communities oversees operations at the St. Lucie St. Lucie may refer to:
residential area, residential district, community - a district where people live; occupied primarily by private residences environments in Florida and throughout the southeastern U.S. Master planned community; St. Lucie West has been ranked as the fastest growing community on Florida's Treasure Coast for the last seven consecutive years. Levitt Commercial specializes in development, re-development, and joint venture opportunities in industrial, office and retail properties. Ryan, Beck & Co. engages in underwriting, market making, distribution, and trading of equity and debt securities, money management and general securities brokerage, as well as consulting, research and financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to financial institutions and middle market companies. For further information, please visit our websites: BankAtlantic: http://www.BankAtlantic.com Levitt and Sons: http://www.LevittandSons.com Core Communities: http://www.CoreCommunities.com St. Lucie West: http://www.StLucieWest.com Levitt Commercial: http://www.LevittCommercial.com Ryan, Beck and Co.: http://www.RyanBeck.com -- If you would like to receive future news releases or announcements directly via email, please access the e-News banner on the Investor Relations Investor relations The process by which the corporation communicates with its investors. page at http://www.BankAtlantic.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release contains statements about future events and/or expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed a forward-looking statement. Forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc., and are subject to a number of risks and uncertainties, including but not limited to, the risks and uncertainties associated with: the impact and effects of leverage, economic, competitive and other factors affecting the Company and its operations, including that the acquisition of Community Savings Bankshares may not be completed as expected, and other factors discussed in reports filed by the Company with the Securities and Exchange Commission ("SEC"). |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion