Offering sells 376,400 common shares at $33.00 each, a 3.25% premium
By Devika Patel
Knoxville, Tenn., May 6 – Middlefield Banc Corp. settled a $5 million initial tranche of a $12.42 million private placement of stock on May 2, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling 376,400 common shares at $33.00 apiece. The price per share is a 3.25% premium to the April 29 closing share price of $31.96.
Middlefield sold 151,515 shares in the first tranche.
The bank holding company is based in Middlefield, Ohio.
| Issuer: | Middlefield Banc Corp.
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| Issue: | Common stock
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| Amount: | $12,421,200
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| Shares: | 376,400
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| Price: | $33.00
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| Warrants: | No
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| Settlement date: | May 2 (for $5 million)
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| Stock symbol: | Nasdaq: MBCN
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| Stock price: | $31.96 at close April 29
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| Market capitalization: | $60.22 million
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