Main Street Banks (NASDAQ:MSBK)
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Main Street Banks Announces Public Offering of 1,500,000 Shares
of Common Stock
ATLANTA, Dec. 9 /PRNewswire-FirstCall/ -- Main Street Banks, Inc.
(NASDAQ:MSBK) today announced that it has entered into an underwriting
agreement to issue and sell in a public offering 1,500,000 shares of its common
stock at $31.25 per share, subject to customary closing conditions. Main Street
has also granted the underwriters a 30 day option to purchase up to 225,000
additional shares to cover over-allotments, if any.
Raymond James & Associates, Inc. is acting as the sole book-running manager for
the offering, and SunTrust Robinson Humphrey is acting as co- manager. The
offering is being made pursuant to an effective shelf registration statement
previously filed with the Securities and Exchange Commission.
The common stock is offered only by means of the prospectus and related
prospectus supplement. Copies of the prospectus supplement and the
accompanying prospectus relating to the offering may be obtained from Raymond
James & Associates Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716.
This press release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein, nor shall there be any sale of
the securities in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Main Street
Main Street Banks, Inc., a $2.3 billion asset, community banking organization
based in metropolitan Atlanta, provides a broad range of banking, brokerage,
insurance, and mortgage products and services through its 22 banking centers
located in seventeen of Georgia's fastest growing communities. Main Street is
the largest community banking organization in the Atlanta metropolitan area.
Forward-Looking Statements
This press release contains forward-looking statements as defined by federal
securities laws. Statements contained in this press release which are not
historical facts are forward-looking statements. Such statements include
expectations as to the completion, size and timing of the offering. A number of
risks and uncertainties could cause actual events to differ from Main Street's
expectations indicated by these forward-looking statements. These risks include
satisfaction of the conditions to closing the common stock offering contained
in the underwriting agreement and other risks addressed in Main Street's
filings with the Securities and Exchange Commission. Main Street undertakes no
obligation to update these statements following the date of this press release.
In addition, Main Street, through its senior management, may from time to time
make forward-looking public statements concerning the matters described herein.
Such forward-looking statements are necessarily estimates reflecting the best
judgment of Main Street's senior management based upon current information and
involve a number of risks and uncertainties. Certain factors which could affect
the accuracy of such forward-looking statements are identified in the public
filings made by Main Street with the Securities and Exchange Commission, and
forward-looking statements contained in this press release or in other public
statements of Main Street or its senior management should be considered in
light of those factors. There can be no assurance that such factors or other
factors will not affect the accuracy of such forward-looking statements.
DATASOURCE: Main Street Banks, Inc.
CONTACT: Edward C. Milligan, Chairman & CEO, +1-770-422-2888, or Samuel
B. Hay III, President & COO, +1-770-385-2424, both of Main Street Banks, Inc.
Web site: http://www.mainstreetbank.com/