Company sells 135,625 common shares to Brookside Equity Partners
By Devika Patel
Knoxville, Tenn., Sept. 24 – Meta Financial Group, Inc. said it arranged a private placement of stock with Brookside Equity Partners LLC to raise $5.76 million on Wednesday.
The company will sell 135,625 common shares at $42.43 per share. The price per share is identical to the Sept. 22 closing share price.
Settlement is expected Dec. 17.
Proceeds will be used for increased balance sheet growth and costs associated with recently executed agreements between MetaBank and multiple payment solutions providers.
The financial services provider is based in Storm Lake, Iowa.
| Issuer: | Meta Financial Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $5,754,569
|
| Shares: | 135,625
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| Price: | $42.43
|
| Warrants: | No
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| Investor: | Brookside Equity Partners LLC
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| Pricing date: | Sept. 23
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| Settlement date: | Dec. 17
|
| Stock symbol: | Nasdaq: CASH
|
| Stock price: | $42.43 at close Sept. 22
|
| Market capitalization: | $296.7 million
|
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