By Sheri Kasprzak
New York, Oct. 31 - Commonwealth Bankshares, Inc. wrapped a private placement for $27,499,992.
The company sold 1,057,692 shares at $26.00 apiece.
Anderson & Strudwick, Inc. was the placement agent.
Proceeds will be used for future asset growth and to increase lending limits. The rest will be used for general corporate purposes.
Based in Norfolk, Va., Commonwealth is the parent company of the Bank of the Commonwealth, which operates banks in the Hampton Roads region of Virginia.
| Issuer: | Commonwealth Bankshares, Inc.
|
| Issue: | Stock
|
| Amount: | $27,499,992
|
| Shares: | 1,057,692
|
| Price: | $26.00
|
| Warrants: | No
|
| Placement agent: | Anderson & Strudwick, Inc.
|
| Settlement date: | Oct. 26
|
| Stock symbol: | Nasdaq: CWBS
|
| Stock price: | $26.81 at close Oct. 26
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
