EverBank Financial IPO watch: The financial services company EverBank Financial will probably see its IPO (initial public offering) coming in next week. According to the regulatory filing, the company will sell 19.22 million shares of common stock in the offering. The selling stockholders will also offer an additional 5.93 million shares in this deal. These shares have been approved to listing on the New York Stock Exchange under the symbol “EVER.”
It is currently anticipated that the EverBank Financial IPO price will be between $12.00 and $14.00 per share. Calculating by an assumed IPO price of $13.00, the middle point of the previously set EverBank Financial IPO price range, the net proceeds from the sales will reach approximately $225.1 million. The company intends to use the net proceeds for general corporate purposes.
Goldman Sachs, BofA Merrill Lynch and Credit Suisse are working as the joint book runners of the EverBank Financial IPO. Goldman Sachs is also acting as the representative of the underwriters. The co-managers also includes Keefe, Bruyette & Woods, Sandler O’Neill & Partners, L.P., Evercore Group, Raymond James, Macquarie Capital and Sterne Agee. The underwriters have been granted to purchase up to an additional 3,772,500 shares at the EverBank Financial IPO price to cover over-allotment.
EverBank Financial IPO is a diversified financial services company that provides innovative banking, lending and investing products and services primarily through the online financial portal and 14 high-volume financial centers in targeted Florida markets and other financial intermediaries.
EverBank Financial has recorded positive earnings in every full year since 1995. The company generated $440.6 million, $612.5 million and $588.2 in interest income for the year ended December 31, 2009, 2010 and 2011, respectively. Net incomes for such years were $53.4 million, $188.9 million and $52.7 million, respectively. As of December 31, 2011, the company had total assets of $13.0 billion and total shareholders’ equity of $1.0 billion.
Commencing in the third quarter of 2012, the company may pay a quarterly cash dividend of $0.02 per share.
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EverBank Financial IPO