Talmer Bancorp Closes IPO

(RTTNews) - Talmer Bancorp, Inc. (TLMR) said Friday that it has closed its initial public offering of 15.56 million shares of Class A common stock at a public offering price of $13.00 per share.

Of the 15.56 million shares sold, 3.7 million shares were sold by the company and 11.9 million shares were sold by certain selling shareholders.

In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 2,333,333 shares of Class A common stock to cover over-allotments, if any. The company received net proceeds of about $42.5 million from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses. The company did not receive any proceeds from the sale of shares by the selling shareholders.

The company's Class A common stock began trading on the NASDAQ Capital Market on February 12.