West Coast Bancorp Raises $155 Million in Capital Through Private Placements and Announces Q3 Financial Results

West Coast Bancorp Raises $155 Million in Capital Through Private Placements and Announces Q3 Financial Results Aggregate proceeds of $155.0 million, of which $134.2 million has been contributed to West Coast Bank.

LAKE OSWEGO, Oregon
West Coast Bancorp announced that it has received capital investments with gross aggregate proceeds in the amount of $155.0 million, $134.2 million of which has been contributed to its wholly owned banking subsidiary, West Coast Bank.

The new, unaffiliated investors have been issued shares of Series A Mandatorily Convertible Participating Preferred Stock (“Series A Preferred Stock”) and Series B Convertible Participating Preferred Stock (“Series B Preferred Stock”). The Series A Preferred Stock will mandatorily convert into common stock upon receipt of necessary shareholder approval. The Series B Mandatorily Convertible Preferred Stock will convert into common stock only following receipt of necessary shareholder approval and after being sold to unaffiliated third parties in a widely dispersed offering by its initial owner. The Company has agreed with the investors to promptly seek shareholder approval for the transactions, which is required, both to increase the authorized shares of common stock available for issuance, and under applicable NASDAQ listing rules. The Company intends to file a proxy statement with respect to these shareholder approvals as soon as practicable.
http://www.reuters.com/article/pressRelease/idUS110128+26-Oct-2009+PRN20091026

About PPM

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.

We are leaders in:

• Oregon Private Placement
• Banking Private Placement
• Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Technology Private Placement Memorandum Writing
• Oregon Private Placement Memorandum Writing
• Banking Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing
• Equity Private Placement Memorandum Writing