Capital Bank Financial, a Southeastern US bank recently formed through six acquisitions, raised $180 million by offering 10 million shares (43% from insiders) at $18, below the range of $21 to $23. The company had originally planned to sell 11.4 million shares before reducing the insider selling component; it also announced that largest shareholder Crestview purchased 886,525 shares on the IPO. Capital Bank Financial plans to list on the NASDAQ under the symbol CBF. Credit Suisse, BofA Merrill Lynch, Goldman Sachs acted as lead managers on the deal.
