Company will sell its common shares at $2.00 apiece through offering
By Devika Patel
Knoxville, Tenn., June 10 - Monarch Community Bancorp, Inc. arranged a $16.5 million private placement of stock on June 10, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell common shares at $2.00 apiece. The price per share represents a 63.64% discount to the June 7 closing share price of $5.50.
The federal bank holding company is based in Coldwater, Mich.
| Issuer: | Monarch Community Bancorp, Inc.
|
| Issue: | Common shares
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| Amount: | $16.5 million
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| Price: | $2.00
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| Warrants: | No
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| Pricing date: | June 10
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| Stock symbol: | OTCBB: MCBFD
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| Stock price: | $5.50 at close June 7
|
| Market capitalization: | $2.15 million
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