Hanmi Financial arranges private placement of 4.9% of its stock

Deal with investor Woori is contingent upon $75 million public sale

By Devika Patel

Knoxville, Tenn., June 27 - Hanmi Financial Corp. said it negotiated a private placement of stock with Woori Investment & Securities under which the investor will buy 4.9% of the company's outstanding stock immediately after its $75 million public offering of common shares closes. The placement is contingent upon the public sale.

As previously reported, the company announced plans to price a $75 million public sale of stock with an $11.25 million greenshoe on June 20. FBR Capital Markets is the underwriter for the offering.

Proceeds from the offerings will be used as additional capital and to support future organic and acquisition driven growth, as well as 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.

© 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.