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BankAtlantic Bancorp to sell 1.6 million shares of Stifel Financial

BankAtlantic Bancorp has agreed to sell 1.6 million shares of investment banking group Stifel Financial common stock at a price of $40 per share for settlement on March 24, 2008.

The net proceeds to Stifel Financial are expected to be approximately $60.7 million after underwriting discounts, commissions and expenses. In addition, BankAtlantic Bancorp granted the underwriters an option to purchase up to an additional 285,000 shares at a price of $40 per share solely to cover over-allotments.

Stifel, Nicolaus & Company, Merrill Lynch & Company and Keefe, Bruyette & Woods are acting as joint book-running managers for the offering. Fox-Pitt Kelton Cochran Caronia Waller is acting as co-manager.