Published on 9/24/2009 in the Prospect News PIPE Daily.
New Issue: WSFS Financial concludes $25 million private placement of common stock
By Devika Patel
Knoxville, Tenn., Sept. 24 - WSFS Financial Corp. said it completed a $25 million private placement of stock.
The company sold 862,069 common shares, along with warrants for 129,310 shares, at $29.00 per share to Peninsula Investment Partners, LP.
The warrants are exercisable at $29.00 for 10 years.
The bank holding company is based in Wilmington. Del.
| Issuer: | WSFS Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $25 million
|
| Shares: | 862,069
|
| Price: | $29.00
|
| Warrants: | For 129,310 shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $29.00
|
| Investor: | Peninsula Investment Partners, LP
|
| Settlement date: | Sept. 24
|
| Stock symbol: | Nasdaq: WSFS
|
| Stock price: | $28.42 at close Sept. 23
|
| Market capitalization: | $169 million
|
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