Center Bancorp Inc. (CNBC) today announced that its common stock offerings were completed yesterday. In a press release Union, New Jersey – based Center said that it sold an aggregate of 1,715,000 shares of its common stock under the co.’s previously filed shelf registration statement, which was declared effective by the SEC on May 5, 2010.
Center sold through Stifel, Nicolaus & Company, Inc., as underwriter, 1,430,000 shares of common stock at a price of $7.00 per share, with underwriting discounts and commissions of $0.39 per share, for gross proceeds from this offering of $10,010,000. Center also sold 285,000 shares of common stock directly to certain of Center’s directors at a price of $7.50 per share, for gross proceeds from this offering of $2,137,500.
Center Bancorp, Inc. operates as the holding company for Union Center National Bank that provides various banking services to individual and corporate customers in Union and Morris counties, New Jersey.