Offering sells 1,833,333 common shares at $1.20 each to two investors
By Devika Patel
Knoxville, Tenn., Sept. 20 - OptimumBank Holdings, Inc. settled a $100,000 initial tranche of a $2.2 million private placement of stock on Sept. 13, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced March 22.
The company is selling 1,833,333 common shares at $1.20 apiece. The price per share is a 144.9% premium to the March 21 closing share price of $0.49.
OptimumBank sold 83,333 shares to Joel Klein in the first tranche. It will sell the remaining 1.75 million shares to Moishe Gubin.
Proceeds will be used for working capital.
Fort Lauderdale, Fla.-based OptimumBank Holdings is the bank holding company for OptimumBank.
| Issuer: | OptimumBank Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.2 million
|
| Shares: | 1,833,333
|
| Price: | $1.20
|
| Warrants: | No
|
| Investor: | Joel Klein (for $100,000), Moishe Gubin (for $2.1 million)
|
| Pricing date: | March 22
|
| Settlement date: | Sept. 13 (for $100,000)
|
| Stock symbol: | Nasdaq: OPHC
|
| Stock price: | $0.49 at close March 21
|
| Market capitalization: | $12.7 million
|
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