Portland-based Umpqua Holdings Corp., parent company of Umpqua Bank and Umpqua Investments Inc., announced Thursday that it increased the amount of common stock to be sold in its underwritten public offering to $225 million, and priced the offering at $9.75 per share, for a total of about 23.1 million shares.

Proceeds from the offering will qualify as tangible common equity and Tier 1 capital, and be used for general corporate purposes, which may include capital to support growth and acquisition opportunities, and to position the company for eventual redemption of preferred stock issued to the U.S. Treasury under the TARP Capital Purchase Program, according to a company news release. The offering is expected to close Wednesday.