Offering has $10.5 million greenshoe, proceeds finance organic growth
By Devika Patel
Knoxville, Tenn., Nov. 15 - Hanmi Financial Corp. said it priced a $70 million public sale of stock with a $10.5 million greenshoe. The deal was announced Monday.
The company will sell 87.5 million common shares at $0.80 apiece. The per-share price reflects an 18.37% discount to the closing share price, $0.98, on Nov. 14.
Settlement is expected Nov. 18.
FBR Capital Markets & Co. is the underwriter.
Proceeds will be used to support future organic growth and future acquisition driven growth and for working capital and other general corporate purposes.
Based in Los Angeles, Hanmi Financial is the holding company for Hanmi Bank, a state-chartered bank.
| Issuer: | Hanmi Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $70 million
|
| Greenshoe: | $10.5 million
|
| Shares: | 87.5 million
|
| Price: | $0.80
|
| Warrants: | No
|
| Underwriter: | FBR Capital Markets & Co.
|
| Announcement date: | Nov. 14
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Stock symbol: | Nasdaq: HAFC
|
| Stock price: | $0.98 at close Nov. 14
|
| Market capitalization: | $130.98 million
|
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