Central Pacific Financial has raised $325 million from accredited investors. The parent of Central Pacific Bank has issued 32.5 million common shares at $10 per share price to investors, including affiliates of Carlyle Group and Anchorage Capital Group. The company has also issued 5.62 million common shares to the Treasury in exchange of the preferred stock issued to the government. Central Pacific’s financial advisor for its recapitalization and placement agent for the private placement was Sandler O’Neill & Partners.
Click here for the release from PR Newswire.