PrivateBancorp, Inc. today announced the closure of its previously announced underwritten public offering of 11.6 million shares for $217 million.

The newly issued common stock was issued at $19.25 per share.

The Company also announced that the underwriters partially exercised their over-allotment option and have purchased an additional 266,673 shares of newly issued common stock.

J.P. Morgan Securities Inc. acted as the sole book-running manager.