WashingtonFirst Bankshares, Inc. Completed a Public Offering of 1.655 Million Shares of Its Voting Common Stock
Troutman Sanders was mentioned in a December 9 MarketLine Financial Deals Tracker article about WashingtonFirst Bankshares, Inc. having completed a public offering of 1.655 million shares of its voting common stock, including 0.215 million shares sold pursuant to the underwriters’ exercise of their option to purchase additional shares, at a price of $20 per share for gross proceeds of $33.1 million. WashingtonFirst intends to use the proceeds for general corporate purposes, which may include funding organic loan growth and longer-term strategic opportunities that may arise in the future, and investments in the company’s wholly-owned banking subsidiary, WashingtonFirst Bank, as regulatory capital. Troutman Sanders lawyers Jake Lutz, Mark Jones, Lynda Crouse and Seth Winter served as legal counsel to WashingtonFirst in the deal.
This is the third transaction in which the firm has represented WashingtonFirst in the past six months, including a $25.0 million private placement of subordinated debt with a follow-on registered exchange offer and the acquisition of mortgage lending and wealth management companies for approximately $7.7 million, for an aggregate transaction value of $65.8 million.