WINSTON-SALEM, N.C., May 13 /PRNewswire-FirstCall/ -- BB&T Corporation announced today that underwriters in BB&T's public offering of 75 million shares of common stock have fully exercised their option to purchase an additional 11.25 million shares. As a result BB&T will issue an aggregate of 86.25 million shares of common stock generating gross proceeds of approximately $1.7 billion.
BB&T expects the offering to close on May 18, 2009.
Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated served as joint book-running managers for the offering. BB&T Capital Markets, a division of Scott & Stringfellow LLC, is acting as a co-manager for the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. A written prospectus for this offering meeting the requirements of Section 10 of the Securities Act of 1933 (other than a free writing prospectus as defined in Securities Act Rule 405) may be obtained from : Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, Attention: Prospectus Department, Toll-Free 1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245, Attention: Prospectus Department, (718) 242-8002; or Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, Toll Free 1-866-718-1649 or by e-mail at prospectus@morganstanley.com.
At March 31, BB&T had $143.4 billion in assets and operated 1,504 banking offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T's common stock is traded on the New York Stock Exchange under the trading symbol BBT.
This press release contains certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results may differ materially from current projections. Please refer to BB&T's filings with the Securities and Exchange Commission for a summary of important factors that may affect BB&T's forward-looking statements. BB&T undertakes no obligation to revise these statements following the date of this press release.
BB&T Corporation
CONTACT: Analysts, Tamera Gjesdal, Senior Vice President, Investor
Relations, +1-336-733-3058, and Daryl Bible, Sr. Exec. Vice President, Chief
Financial Officer, +1-336-733-3031; or Media, Bob Denham, Senior Vice
President, Corporate Communications, +1-336-733-1475
Web Site: http://www.bbt.com/
