Stifel Financial has announced that BankAtlantic Bancorp and The Western and Southern Life Insurance have priced the previously announced public offering of an aggregate of 1.9 million shares of Stifel common stock at a price of $40 per share.
Of these shares, 1.6 million shares are being offered by BankAtlantic Bancorp and 300,000 shares are being offered by The Western and Southern Life Insurance. Stifel will not receive any of the proceeds from the sale of shares of common stock in this offering.
This offering is expected to close on March 24, 2008. BankAtlantic Bancorp has granted the underwriters an option, exercisable for 30 days from the closing, to purchase 285,000 additional shares of common stock to cover over-allotments, if any.
Stifel, Nicolaus & Company, Merrill Lynch 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.