Deal sells 925,079 common shares at $13.00 per share, a 2.18% discount
By Devika Patel
Knoxville, Tenn., Sept. 16 - Old Line Bancshares, Inc. completed a $12.03 million private placement of stock on Sept. 13, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 925,079 common shares at $13.00 per share. The price per share is a 2.18% discount to the Sept. 12 closing share price of $13.29.
Proceeds will be used for working capital and other general corporate purposes.
The holding company of Old Line Bank is based in Bowie, Md.
| Issuer: | Old Line Bancshares, Inc.
|
| Issue: | Common shares
|
| Amount: | $12,026,027
|
| Units: | 925,079
|
| Price: | $13.00
|
| Warrants: | No
|
| Settlement date: | Sept. 3
|
| Stock symbol: | Nasdaq: OLBK
|
| Stock price: | $13.29 at close Sept. 12
|
| Market capitalization: | $132.57 million
|
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