Editor's note: An earlier version of this brief misstated the projected dollar value of the offering.
Shareholders of BankUnited (BKU) in Miami Lakes, Fla., are preparing to sell more than $330 million of the company's stock.
The shareholders will offer 9 million shares to the public in the secondary offering, the $14.3 billion-asset BankUnited announced Monday. The underwriters of the transaction, JPMorgan Securities, B of A Merrill Lynch and Morgan Stanley, will be given the option of buying another 1.35 million shares.
The underwriters' option would bring the total sale to about $330 million at the company's share price of $31.88 at close of trading Friday. The stock fell more than 2% in pre-market trading Monday morning.
BankUnited plans to file an offering prospectus with the Securities and Exchange Commission on March 6, it said.
BankUnited reported third-quarter earnings last week of $54.3 million, up 9% from the same period a year ago. The company opened five branches in New York City this summer, and now has 104 locations in New York and Florida.