MADISON, Wis., Oct. 21, 2014 (GLOBE NEWSWIRE) -- Anchor BanCorp Wisconsin Inc. (the "Company"), the parent holding company of AnchorBank, fsb, today announced the pricing of its initial public offering of 371,959 shares of its common stock at a price to the public of $26.00 per share. The Company is offering 250,000 shares of common stock and selling stockholders are offering 121,959 shares of common stock. In addition, the Company has granted the underwriters an option to purchase up to an additional 55,794 shares of common stock from the Company to cover over-allotments. The shares are expected to begin trading on October 22, 2014 on the NASDAQ Global Select Market under the symbol "ABCW." The offering is expected to close on October 27, 2014, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering for general corporate purposes. The Company will not receive any proceeds from the offering of shares by the selling stockholders.
Sandler O'Neill + Partners, L.P. is acting as book-running manager for the offering, and Robert W. Baird & Co. Incorporated is acting as co-manager.
A registration statement relating to these securities has been filed with, and on October 21, 2014 was declared effective by, the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Sandler O'Neill + Partners, L.P., Attention: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, telephone: 1-866-805-4128 or email: email@example.com; or Robert W. Baird & Co. Incorporated Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, telephone: 800-792-2473 or email: firstname.lastname@example.org.
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 state or 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.
This year, AnchorBank celebrates 95 years of service to the state of Wisconsin, and offers a full range of personalized financial solutions to more than 108,000 households and businesses. Our goal is to make life simpler and more secure for individuals, families and business owners by helping them manage their finances and grow their assets safely and conveniently. To learn more, visit anchorbank.com.
This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to the initial public offering and the Company's proposed use of proceeds. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intends," "plan," and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date hereof. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws.
CONTACT: Jennifer Ranville (608) 252-8862
Source:Anchor BanCorp Wisconsin Inc.