Cascade Bancorp To Raise $177 Million: CORRECTED

Cascade Bancorp signed several Securities Purchase Agreements to sell about $177 million of its shares. The Bend, Ore.-based company reached agreements with David F. Bolger, an affiliate of Leonard Green & Partners LP 's, an affiliate of Lightyear Fund II LP, and private equity funds affiliated with WL Ross & Co. LLC. After the close, Leonard Green, Lightyear, and WL Ross will each own 24.35 percent of Cascade Bancorp. Bolger will own 14.01 percent of the business.

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