On September 18, 2013, Chemical Financial Corporation (NASDAQ: CHFC) ("Chemical") announced the closing of a public offering of 2,213,750 shares of its common stock, including 288,750 shares of common stock that were issued upon the exercise in full of the underwriters’ over-allotment option, at a price of $26.00 per share to the public.
Chemical intends to use the net proceeds from this offering for general corporate purposes, which may include funding loan growth and long-term strategic opportunities that may arise in the future. The offering was made under Chemical’s shelf registration statement filed with the Securities and Exchange Commission (SEC) on May 23, 2013 and declared effective on June 7, 2013.
CHEMICAL FINANCIAL CORPORATION
Chemical Financial Corporation is a $5.8 billion financial holding company registered and incorporated in the State of Michigan. The business is concentrated in a single industry segment - commercial banking. Chemical Financial Corporation operates through a single subsidiary bank, Chemical Bank, with 156 banking offices spread over 38 counties in the Lower Peninsula of Michigan. Chemical Bank offers a full range of traditional banking and fiduciary products and services.