BankUnited Financial Corporation Announces Public Offering of Stock
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BankUnited Financial Corporation (NASDAQ: BKUNA) today announced the
launch of a public offering of its Class A common stock, with gross
proceeds of $400 million. The offering is expected to be pursuant to
customary underwriting terms for a firm commitment offering of this type.
UBS Investment Bank (UBS) and Keefe, Bruyette & Woods (KBW) are acting
as joint book-running managers for the offering. Sandler O’Neill
and Stifel Nicolaus are acting as co-managers for the offering.
BankUnited expects to use the net proceeds from this offering for
general corporate purposes, including contributing capital to its bank
subsidiary.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy shares of common stock, nor shall there be any sale
of these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
offering may be made only by means of a prospectus and a related
prospectus supplement, copies of which may be obtained when available
from UBS Investment Bank, Attention: Prospectus Department, 299 Park
Avenue, New York, NY 101711 or by calling 888-827-7275 or from KBW, 787
Seventh Avenue, New York, NY 10019, Attn: Prospectus Department, or by
calling 1-800-221-3246. An electronic copy of the prospectus and related
prospectus supplement is available from the SEC’s
website at www.sec.gov.
Forward-Looking Statements
This news release may contain certain forward-looking statements, which
are based on management's expectations regarding factors that may impact
the company's earnings and performance in future periods. Words and
phrases such as: "will," "will likely result," "expect," "will
continue," "anticipate," "estimate," "project," "believe," "intend,"
"should," "would," "may," "can," "could," "plan," "target" and similar
expressions are intended to identify "forward-looking statements."
Actual results or performance could differ from those implied or
contemplated by such statements. Factors that could cause future results
and performance to vary materially from current management expectations
include, but are not limited to, general business and economic
conditions, either nationally or regionally; fiscal or monetary
policies; significant weather events such as hurricanes; changes or
fluctuations in the interest rate environment; a continuation of the
deterioration in credit quality and/or a reduced demand for credit,
including the resultant effect on our allowance for loan losses; reduced
deposit flows and loan demand; real estate values; competition from
other financial service companies in our markets; potential or actual
litigation; legislative or regulatory changes, including, among others,
changes in accounting standards, guidelines and policies; the issuance
or redemption of additional company debt or equity; the concentration of
operations in Florida, if Florida business or economic conditions
continue to decline; reliance on other companies for products and
services; the impact of war and the threat and impact of terrorism;
volatility in the market price of the company’s
common stock; the company’s inability to raise
capital due to challenging market conditions; and other economic,
competitive, servicing capacity, governmental, regulatory and
technological factors affecting the company’s
operations, price, products and delivery of services. Please refer to
the documents that BankUnited files periodically with the SEC, such as
the Form 10-K for the 2007 fiscal year, and reports on Form 10-Q for the
Dec. 31, 2007, and March 31, 2008 periods, which contain additional
important factors, including "Risk Factors,”
that could cause actual results to differ from the company’s
current expectations and from the forward-looking statements contained
in this press release.
