Davis Polk advised the joint bookrunners in connection with an offering of 2,200,000 shares of common stock of Signature Bank. The shares were offered pursuant to Section 3(a)(2) of the Securities Act of 1933. The total gross proceeds to Signature Bank totaled approximately $297 million. The common stock is listed on The NASDAQ Global Select Market under the symbol “SBNY.”
Signature Bank is a New York-based full service commercial bank with 29 private client offices located in the New York metropolitan area serving the needs of privately owned business clients, their owners and senior managers. Signature Bank offers a wide variety of business and personal banking products and services through the Bank, as well as investment, brokerage, asset management and insurance products and services through its wholly owned subsidiary, Signature Securities Group Corporation, a licensed broker-dealer and investment adviser. In addition, Signature Bank operates Signature Financial, LLC, a specialty finance subsidiary focused on equipment finance and leasing, transportation financing and taxi medallion financing. Signature Bank also operates Signature Public Funding Corporation, a subsidiary that provides municipal finance and tax-exempt lending and leasing products to government entities throughout the country.
The Davis Polk capital markets team included partner John B. Meade and associate Ravi P. Ramchandani. Partner Margaret E. Tahyar, counsel Daniel E. Newman and associate William P. Morrison provided regulatory advice. The tax team included partner Michael Farber and associate Aliza Slansky. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.