Huntington Bancshares Prices $400 Million Common Stock Offering
COLUMBUS, Ohio -- September 18, 2009 -- Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced that it priced an offering of 95.2 million shares of its common stock at a price to the public of $4.20 per share, or $400.0 million in aggregate gross proceeds. Underwriters will have a 30-day option to purchase up to an additional 14.3 million shares of common stock from Huntington. Goldman Sachs & Co. is acting as bookrunning manager for the offering with Sandler O'Neill & Partners, L.P. acting as co-manager.
"We are very pleased with the pricing and investor receptivity to this offering," said Stephen D. Steinour, chairman, president, and chief executive officer. "As a result of this offering, our common equity position will be significantly strengthened. Importantly, this will provide additional resources to more aggressively position the company for growth in our core businesses and for better long-term financial performance. "
