Company also discloses July sale of $200,000 of stock to director
By Angela McDaniels
Tacoma, Wash., Aug. 20 - OptimumBank Holdings, Inc. sold $1.2 million of common stock to a single investor under a privately negotiated stock purchase agreement reached on Aug. 14.
The sale settled on Aug. 15, according to an 8-K filing with the Securities and Exchange Commission.
The 3 million newly issued shares sold for $0.40 each, which is a 2.4% discount to the company's $0.41 closing share price on Aug. 13.
The shares represent 9.9% of the company's outstanding common stock after the transaction.
Sale to director
The company also disclosed the sale of $200,000 of common stock to director Joel Klein. The 500,000 shares sold for $0.40 each.
As a proposed director of the company, Klein subscribed for the shares on Feb. 28. His appointment as a director was subject to regulatory approval. Upon receiving this approval, the company appointed Klein as a director on June 29, and the stock placement closed July 9.
Fort Lauderdale, Fla.-based OptimumBank Holdings is the bank holding company for OptimumBank.
| Issuer: | OptimumBank Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.2 million
|
| Shares: | 3 million
|
| Price: | $0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 15
|
| Stock symbol: | Nasdaq: OPHC
|
| Stock price: | $0.64 at close Aug. 20
|
| Market capitalization: | $17.25 million
|
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