Bookrunner FBR raises funds for acquisition of Eaton National Bank
By Devika Patel
Knoxville, Tenn., Nov. 5 - LCNB Corp. said the underwriters for its public sale of stock opted to exercise the deal's $3.75 million greenshoe in full for total proceeds of $28.75 million. The deal priced for $25 million with the greenshoe on Nov. 1.
The company sold 1,642,857common shares at $17.50 apiece. The price per share is a 13.15% discount to the Oct. 31 closing share price of $20.15. Of the shares, 214,286 comprised the fully exercised greenshoe.
FBR Capital Markets & Co. was the sole bookrunner.
Proceeds will be used to acquire all of the outstanding stock of Eaton National Bank & Trust Co. and for general corporate purposes.
The financial holding company for LCNB National Bank is based in Lebanon, Ohio.
| Issuer: | LCNB Corp.
|
| Issue: | Common shares
|
| Amount: | $28.75 million (including $3.75 million greenshoe)
|
| Shares: | 1,642,857
|
| Price: | $17.50
|
| Warrants: | No
|
| Bookrunner: | FBR Capital Markets & Co.
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 5
|
| Stock symbol: | Nasdaq: LCNB
|
| Stock price: | $20.15 at close Oct. 31
|
| Market capitalization: | $135.61 million
|
© 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.
