Signature in N.Y. to raise $739M of new capital

Signature Bank in New York is set to raise about $739 million of offensive capital.

The $118 billion-asset bank said in a regulatory filing Tuesday that it will sell 2.1 million shares of common stock at $352 each. The underwriters can sell another 315,000 shares if there is demand. 

The bank said it plans to use the proceeds for general corporate purposes. 

Goldman Sachs, Morgan Stanley and Jefferies were the bookrunners in the offering. 

The bank added more than $6 billion of loans in the fourth quarter.