Proceeds to be used to increase loan portfolio, working capital
By Susanna Moon
Chicago, May 22 – Manhattan Bridge Capital, Inc. priced $4.46 million common stock in a public offering with a 45-day over-allotment option for 152,250 more shares.
The company sold 1,015,000 common shares at $4.39 per share, which is a 5.02% premium to the company’s closing price on May 22.
Aegis Capital Corp. is the underwriter.
Proceeds will be used to increase the company’s loan portfolio and for general corporate purposes and working capital.
Manhattan Bridge Capital is a New York-based real estate investment trust that originates, services and manages a portfolio of first mortgage loans.
| Issuer: | Manhattan Bridge Capital Inc.
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| Issue: | Common stock
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| Amount: | $4,455,850
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| Greenshoe: | For 152,250 shares
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| Shares: | 1,015,000
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| Price: | $4.39
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| Warrants: | No
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| Bookrunner: | Aegis Capital Corp.
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| Pricing date: | May 22
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| Settlement date: | May 29
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| Stock symbol: | Nasdaq: LOAN
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| Stock price: | $4.18 at close May 22
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| Market capitalization: | $25.48 million
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