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Capitol Bancorp Limited
Capitol Bancorp Limited Announces Pricing of $33.5 Million of Trust Preferred Securities
July 19th, 2008
Capitol Bancorp Limited (NYSE:CBC), announced that on June 30, 2008, the Corporation priced $33,500,000 aggregate liquidation amount of 10.5% Trust Preferred Securities to be issued by Capitol Trust XII, a statutory trust formed under the laws of the State of Delaware (the "Trust"), representing preferred beneficial interests in the Trust (the "Trust Preferred Securities") in an underwritten public offering at $10 per Trust Preferred Security. The Trust has also granted the underwriters a 30-day option to purchase up to 502,500 of Trust Preferred Securities to cover over-allotments, if any. The offering is scheduled to close on July 7, 2008. Each Trust Preferred...
Source: Law & Health Weekly (2008-07-19)
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