CapGen Capital Group III LP Participates as Selling Shareholder in Seacoast Banking Corporation of Florida Registered Underwritten Public Offering

February 21, 2017

S&C client CapGen Capital Group III LP participated as a selling shareholder in a registered underwritten public offering of common stock of Seacoast Banking Corporation of Florida through the exercise of CapGen's piggyback registration rights. The public offering consisted of 2,702,500 shares sold by Seacoast and 6,210,000 shares sold by CapGen at a price to the public of $22.25 per share, for aggregate gross proceeds to CapGen of approximately $130.6 million. The number of shares sold by CapGen includes 810,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares.
CapGen is a New York-based private equity firm that invests in financial services businesses with a particular focus on community and regional financial institutions, specialty finance and related services.
The S&C team representing CapGen was led by Alison Ressler and Rita-Anne O'Neill, along with Ann Chen and Kelly Meric. Rodgin Cohen, Michael Escue and Jason Cabral advised on bank regulatory matters.