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ConnectOne Bancorp to net $38.1M from just-completed common offering

Englewood Cliffs, N.J.-based ConnectOne Bancorp Inc. closed its previously announced common stock offering, with net proceeds slated to be approximately $38.1 million.

The company sold 1,659,794 common shares at $24.25 per share, including 216,495 shares that the underwriters bought through the full exercise of their overallotment option.

The company plans to use the net proceeds for general corporate purposes, including providing working capital to support organic growth at unit ConnectOne Bank.

Keefe Bruyette & Woods and Raymond James & Associates Inc. acted as joint book-running managers for the offering.