Griffin Financial assists; offering sells 5,572,703 common shares
By Devika Patel
Knoxville, Tenn., May 23 - Howard Bancorp Inc. priced its $8.4 million initial public offering of stock on May 21, according to a prospectus filed Wednesday with the Securities and Exchange Commission. It expects the shares to trade on the Nasdaq under the symbol "HBMD."
The company will sell 5,572,703 common shares at $7.30 apiece.
Griffin Financial Group, LLC is assisting.
Proceeds will be used for expenses, for potential acquisitions and to contribute to the capital of Howard Bank.
Based in Ellicott City, Md., Howard Bancorp is the holding company for Howard Bank.
| Issuer: | Howard Bancorp Inc.
|
| Issue: | Common stock
|
| Amount: | $8,401,504
|
| Shares: | 1,150,891
|
| Price: | $7.30
|
| Warrants: | No
|
| Pricing date: | May 21
|
| Stock exchange: | Nasdaq: HBMD
|
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