Talmer Bancorp Announces Secondary Common Stock Offering

(RTTNews) - Talmer Bancorp Inc. (TLMR) announced a secondary offering by which funds affiliated with WL Ross & Co. LLC have agreed to sell 9.66 million shares of their Talmer Class A common stock in an underwritten public offering.

Talmer noted that it will not issue any shares in the offering and will not receive any proceeds from the offering. Closing of the offering is expected to occur on or about August 31, 2015, subject to customary closing conditions.

Talmer also announced that it intends to repurchase 5.08 million shares in the offering, at a price per share equal to the price per share being paid by the underwriter to the selling shareholders. Following the completion of the offering and Talmer's intended repurchase, WL Ross & Co. LLC and its affiliated funds will have fully divested their ownership stake in Talmer's Class A common stock.