Cathay General Bancorp Closes $76.0 Million Public Offering of Common Stock
20 October 2009 - 7:05AM
PR Newswire (US)
LOS ANGELES, Oct. 19 /PRNewswire-FirstCall/ -- Cathay General
Bancorp (the "Company") (NASDAQ:CATY), the holding company for
Cathay Bank, today announced that it has completed its previously
announced offering of 7,614,571 shares of its common stock and that
the underwriter for the offering has exercised in full its
over-allotment option to purchase an additional 1,142,185 shares of
common stock. The net proceeds from the offering to the Company
were approximately $76.0 million. BofA Merrill Lynch acted as sole
bookrunner for the offering. This press release is neither an offer
to sell, nor a solicitation of an offer to buy, any securities of
the Company, and there shall not be any sale of securities of the
Company in any state or jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
Copies of the final prospectus supplement and the accompanying
prospectus relating to these securities may be obtained by
contacting BofA Merrill Lynch, Attention: Prospectus Department, 4
World Financial Center, New York, NY 10080. ABOUT CATHAY GENERAL
BANCORP Cathay General Bancorp is the holding company for Cathay
Bank, a California state-chartered bank. Founded in 1962, Cathay
Bank offers a wide range of financial services. Cathay Bank
currently operates 31 branches in California, eight branches in New
York State, one in Massachusetts, two in Texas, three in Washington
State, three in the Chicago, Illinois area, one in New Jersey, one
in Hong Kong, and a representative office in Shanghai and in
Taipei. FORWARD-LOOKING STATEMENTS AND OTHER NOTICES The
information contained in this press release is not intended as a
solicitation to buy Cathay General Bancorp stock or any other
securities and is provided for information only. Statements made in
this press release, other than statements of historical fact, are
forward-looking statements within the meaning of the applicable
provisions of the Private Securities Litigation Reform Act of 1995
regarding management's beliefs, projections, and assumptions
concerning future results and events. These forward-looking
statements may include, but are not limited to, such words as
"aims," "anticipates," "believes," "could," "estimates," "expects,"
"hopes," "intends," "may," "plans," "projects," "seeks," "shall,"
"should," "will," "predicts," "potential," "continue," and
variations of these words and similar expressions. Forward-looking
statements are based on estimates, beliefs, projections, and
assumptions and are not guarantees of future performance. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from the Company's historical experience and the Company's present
expectations or projections. Such risks and uncertainties and other
factors include, but are not limited to, adverse developments or
conditions related to or arising from: significant volatility and
deterioration in the credit and financial markets; adverse changes
in general economic conditions; the effects of the Emergency
Economic Stabilization Act, the American Recovery and Reinvestment
Act, and the Troubled Asset Relief Program (TARP) and any changes
or amendments thereto; deterioration in asset or credit quality;
the availability of capital; the impact of any goodwill impairment
that may be determined; acquisitions of other banks, if any;
fluctuations in interest rates; the soundness of other financial
institutions; expansion into new market areas; earthquakes,
wildfires, or other natural disasters; competitive pressures;
changes in laws, regulations, and accounting rules, or their
interpretations; legislative, judicial, or regulatory actions and
developments against the Company; and general economic or business
conditions in California and other regions where Cathay Bank has
operations, including, but not limited to, adverse changes in
economic conditions resulting from the continuation or worsening of
the current economic downturn. These risks and uncertainties and
other factors are further described in the Company's Current Report
on Form 8-K filed on October 13, 2009, the Company's other reports
filed with the SEC, and other filings the Company makes with the
SEC from time to time, including the prospectus related to the
offering described above. Actual results in any future period may
also vary from the past results discussed in this press release.
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on any forward-looking statements, which speak
to the date of this press release. Cathay General Bancorp has no
intention and undertakes no obligation to update any
forward-looking statement or to publicly announce any revision of
any forward-looking statement to reflect future developments or
events, except as required by law. Cathay General Bancorp's filings
with the SEC are available at the website maintained by the SEC at
http://www.sec.gov/, or by request directed to Cathay General
Bancorp, 9650 Flair Drive, El Monte, California 91731, Attention:
Investor Relations (626) 279-3286. DATASOURCE: Cathay General
Bancorp CONTACT: Heng W. Chen of Cathay General Bancorp,
+1-626-279-3652 Web Site: http://www.cathaybank.com/
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