By Devika Patel
Knoxville, Tenn., July 1 - Tower Financial Corp. settled a $2.91 million private placement of stock on June 30, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The Fort Wayne, Ind., bank holding company sold 461,111 common shares at $6.30 apiece.
The share price was established as 90% of the closing market price of the common shares on June 29.
Proceeds will be used for general corporate purposes.
Issuer: | Tower Financial Corp.
|
Issue: | Common stock
|
Amount: | $2,905,000
|
Shares: | 461,111
|
Price: | $6.30
|
Warrants: | No
|
Settlement date: | June 30
|
Stock symbol: | Nasdaq: TOFC
|
Stock price: | $7.00 at close June 30
|
Market capitalization: | $28.7 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.