ST. PETERSBURG, Fla., Aug. 14, 2015 /PRNewswire/ -- C1 Financial, Inc. ("C1") announced today the pricing of a secondary offering, by Oakland Investment LLC, a Delaware company, CBM Holding Qualified Family, L.P., a Canadian limited partnership and Erwin Russel (collectively, the "selling stockholders") of an aggregate of 1,256,255 shares of common stock. The total gross proceeds of the offering (before underwriter's discounts and commissions) to the selling stockholders will be approximately $22.7 million. C1 will not receive any of the proceeds from the offering by the selling stockholders.
C1's common stock is traded on the New York Stock Exchange under the symbol "BNK". Raymond James & Associates, Inc. is serving as the sole underwriter for the offering. The offering is subject to customary closing conditions and is expected to close on or around August 19, 2015.
The offering will be made only by means of a prospectus, copies of which may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling 1-(800)-248-8863. You may obtain a copy of the prospectus free of charge by visiting the Securities and Exchange Commission's website at www.sec.gov. The underwriter may reoffer the shares in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
A registration statement on Form S-1 relating to the securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
SOURCE C1 Financial, Inc.