First Niagara stock sale tops $360M - Business First of Buffalo:

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million from its recent stock offering of more than 31millionb shares. The Pendleton-based company (NASDAQ: FNFG) had hopex to take in $313.6 million in net proceeds by sellin g 27 million shares of commoj stockat $12.25 per share. The total amount raised was approximately $380.4 million, including 4.05 million sharesd pursuant tothe over-allotment option to the underwritera and First Niagara, parenr of First Niagara said it would use proceed s from the stock sale to repurchaser the $184 million in preferred sharezs and warrants it sold several months ago to the under the Troubleds Asset Relief Program.
“Thi successful offering enables us to continue leveraging our enviabl e position to make credit and other financial services widely available to currentf and prospective customers as well as continue to explorre otherstrategic opportunities,” said John president and chief executive officer. First Niagarza said it has now raised morethan $495 million of capital since the fourt quarter of 2008.