Davis Polk advised Morgan Stanley & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representatives of the underwriters on the SEC-registered secondary offering of 22,540,000 shares of common stock of BankUnited, Inc. sold by investment funds affiliated with The Blackstone Group, The Carlyle Group, Centerbridge Partners, L.P., WL Ross & Co. LLC and certain officers and directors of BankUnited, Inc. The shares of common stock sold in the offering include shares sold pursuant to the underwriters’ fully exercised option to purchase additional shares. The net proceeds of the offering were approximately $558 million. BankUnited’s common stock is traded on the New York Stock Exchange under the symbol “BKU.”
BankUnited, Inc. is a national bank holding company with two main subsidiaries: BankUnited, National Association, headquartered in Miami Lakes, Florida, which provides a full range of banking services to individual and corporate customers through 98 branches located in 15 Florida counties, and Herald National Bank, a national banking association with two branch locations in New York.
The Davis Polk corporate team included partner Richard D. Truesdell Jr., associate Sarah Whittington and law clerk Nicholas J. Marricco. The financial institutions team included partner Luigi L. De Ghengi and associates Mark L. Giugliano and Polly Klyce Pennoyer. The tax team included partner Michael Mollerus, associate Arie Rubenstein and law clerks T. Daris Isbell and Sam R. Van Peperstraete. Counsel Loyti Cheng and associate Amy E. Turner advised on environmental matters. Counsel Marcie A. Goldstein provided FINRA advice. Kristyn M. Dunleavy was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
