Published: March 15, 2011
TCF Closes $230 Million Common Stock Offering
WAYZATA, Minn. - (BUSINESS WIRE) - TCF Financial Corporation ("TCF" ) (NYSE:TCB) today announced that the
company raised gross proceeds of $230 million through its previously
announced public common stock offering. In connection with the offering,
TCF issued 15,081,968 shares of common stock, including 1,967,213 shares
issued pursuant to the full exercise of the underwriters' over-allotment
option, at a public offering price of $15.25 per share. Net proceeds of
the offering to TCF after deducting underwriting discounts and
commissions and estimated offering expenses were approximately $220
million. J.P. Morgan Securities LLC and Morgan Stanley acted as joint
lead book-running managers. RBC Capital Markets served as co-manager.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
offer or sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
offering will be made only by means of a prospectus supplement and
accompanying prospectus, copies of which may be obtained from J.P.
Morgan Securities LLC via Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by calling toll-free (866) 803-9204
or from Morgan Stanley at 180 Varick Street, 2nd Floor, New
York, NY 10014, Attention: Prospectus Department or by email at prospectus@morganstanley.com.
TCF is a Wayzata, Minnesota-based national bank holding company with
$18.5 billion in total assets. The company has 442 branches in
Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and
South Dakota, providing retail and commercial banking services. TCF also
conducts commercial leasing and equipment finance business in all 50
states and commercial inventory finance business in the U.S. and Canada.
For more information about TCF, please visit www.tcfbank.com.
TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755
www.tcfbank.com
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