“Bank of Montreal (NYSE:BMO) has launched an underwritten public offering of 18,125,000 common shares to raise total gross proceeds of C$2.7B.
Each share has been priced at C$149.
Underwriters have been granted an option to purchase up to an additional 2,718,750 common shares at the same price exercisable at any time up to 30 days after closing of the offering.
Offering is expected to close on Mar. 29, 2022.
Net proceeds from the offering will be used to finance a portion of the purchase price for BMO's previously-announced acquisition of Bank of the West and its subsidiaries.
The bank expects to fund the acquisition primarily with excess capital.”
Source Seeking Alpha
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