By Sheri Kasprzak
New York, Aug. 1 - Heritage Bankshares, Inc. closed the second tranche of its planned $3.1 million private placement. The most recent closing brings the total proceeds raised so far to $2,876,551.
The company most recently sold 47,079 shares at $15.50 each for proceeds of $729,724.
In the first tranche, closed on June 30, the company issued 138,505 shares at the same price.
The company intends to sell up to 200,000 shares in the offering for proceeds of $3.1 million.
Proceeds will be used to increase the company's loan limits.
Based in Norfolk, Va., Heritage operates a chain of banks in Norfolk and Virginia Beach.
| Issuer: | Heritage Bankshares, Inc.
|
| Issue: | Stock (second tranche)
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| Amount: | $729,724
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| Shares: | 47,079
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| Price: | $15.50
|
| Warrants: | No
|
| Settlement date: | July 31 (for second tranche)
|
| Stock symbol: | Pink Sheets: HBKS
|
| Stock price: | $15.65 at close July 31
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