Signature Bank (SBNY) in New York plans to sell 2.1 million new shares of common stock.

The underwriter, J.P. Morgan Securities, will get a 30-day option to purchase as many as 315,000 additional shares, Signature said in a news release Monday. Based on the company's closing stock price Monday, the offering could raise nearly $300 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.