Meta Financial could raise $20 million from at-the-market agreement

Agent Sandler O'Neill helps sell shares at prevailing market prices

By Devika Patel

Knoxville, Tenn., June 10 - Meta Financial Group, Inc. negotiated a $20 million at-the-market program with Sandler O'Neill + Partners LP, according to an 8-K filed Monday with the Securities and Exchange Commission.

The sales will be made at prevailing market prices.

The agent will be paid a 3% commission.

Proceeds will be used for debt reduction or refinancing, investments in subsidiaries, acquisitions of subsidiaries, stock repurchases and other general corporate purposes.

The financial services provider is based in Sioux Falls, S.D.

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