New Investors Bancorp Launches Firm Commitment Underwritten Offering

(RTTNews) - Investors Bancorp, Inc. (ISBC) said Monday that New Investors Bancorp, Inc., the proposed holding company for Investors Bank, has commenced the firm commitment underwritten offering portion of the second step conversion to sell shares of common stock not subscribed for in the subscription offering to the general public at $10.00 per share.

On April 17, Investors Bancorp announced an increase in the maximum purchase limitations for those persons who subscribed for the maximum purchase limit in the subscription offering, which expired April 11, and indicated on the stock order form a desire to purchase additional shares if the maximum purchase limits were increased. Those persons are being resolicited, with a final submission deadline of the supplemental orders of 2:00 p.m. Eastern Standard Time, on April 24.

The completion of the conversion and offering remains subject to, among other things, selling a minimum of 170 million shares in the offering, and the receipt of the approval of the depositors of Investors Bank and of the stockholders of Investors Bancorp.