Chemical Financial Corporation Announces Closing Of


The following excerpt is from the company's SEC filing.

MIDLAND, Mich., June 24, 2014 — Chemical Financial Corporation (Nasdaq:CHFC) announced today the closing of an underwritten public offering of 2,500,000 shares of its common stock at a price of $28.00 per share to the public. The Company has granted the underwriters a 30-day option from June 19, 2014 to purchase up to an additional 375,000 shares of common stock to cover over-allotments.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include funding organic loan growth and long-term strategic opportunities that may arise in the future, funding a portio n of the merger consideration in the Company's pending merger with Northwestern Bancorp, Inc. and funding the recapitalization of Northwestern Bank if the Company operates it as a separate bank for a period of time following the merger.

Keefe, Bruyette & Woods, a Stifel company, acted as the sole book-running manager in this offering. Sandler O'Neill + Partners, L.P. acted as co-manager for the offering.

The offering was made under the Company’s shelf registration statement filed with the Securities and Exchange Commission (SEC) on June 12, 2014, which became immediately effective.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The offering was made by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, telephone (800) 966-1559. Copies of the prospectus and related prospectus supplement may also be obtained from the SEC’s website at: www.sec.gov.

Chemical Financial Corporation is the second largest banking company headquartered and operating branch offices in Michigan. The Company operates through a single subsidiary bank, Chemical Bank, with 157 banking offices spread over 38 counties in the lower peninsula of Michigan. At March 31, 2014, the Company had total assets of $6.34 billion. Chemical Financial Corporation's common stock trades on The NASDAQ Stock Market under the symbol CHFC and is one of the issues comprising The NASDAQ Global Select Market. More information about the Company is available by visiting the investor relations section of its website at www.chemicalbankmi.com.

This news release contains various forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the risk factors described in the Company's filings with the SEC, including under “Risk Factors” (including the risk

factors under the heading “Risk Factors—Risks Related to the Pending Merger with Northwestern”) in the Company's Prospectus Supplement, dated June 19, 2014, and under “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. These and other factors could cause a difference between an ultimate outcome and a preceding forward-looking statement.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Chemical Financial Corporation next reports earnings on July 14, 2014.

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Other recent filings from the company include the following:

Chemical Financial Corporation director was just granted 172 restricted shares - Nov. 20, 2014
Executive VP of Chemical Financial Corporation just disposed of 100 shares - Nov. 10, 2014
Chemical Financial Corporation director just declared owning 2,000 shares of Chemical Financial Corporation - Nov. 4, 2014
Chemical Financial: Regulation Fd Disclosure - Nov. 3, 2014
Chemical Financial: Completion Of Acquisition Or Disposition Of Assets - Oct. 31, 2014

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