Company offers 868,057 shares to fund growth, general working capital
By Devika Patel
Knoxville, Tenn., Feb. 26 – Bancorp of New Jersey, Inc. said it has arranged a $9.51 million private placement of stock. RS Platou Markets, Inc. and RS Platou Markets AS are the agents.
Investors have agreed to buy 868,057 common shares at $10.95 per share. The purchase price is identical to the Feb. 25 closing share price.
Settlement is expected March 2.
Proceeds will be used for growth and general working capital.
The bank holding company is based in Fort Lee, N.J.
| Issuer: | Bancorp of New Jersey, Inc.
|
| Issue: | Common stock
|
| Amount: | $9,505,224
|
| Shares: | 868,057
|
| Price: | $10.95
|
| Warrants: | No
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 2
|
| Stock symbol: | NYSE: BKJ
|
| Stock price: | $10.95 at close Feb. 25
|
| Market capitalization: | $58.9 million
|
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