New York, April 11 - Bancshares of Florida, Inc. said it priced a $10.5 million private placement of stock.
The Naples, Fla., bank holding company sold 0.7 million shares at $15.00 a share to accredited investors.
Allen & Co. LLC was placement agent.
The $9.9 million of net proceeds will be used to maintain the company's capital position and fund expected growth in 2005.
| Issuer: | Bancshares of Florida, Inc.
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| Issue: | Stock
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| Amount: | $10.5 million
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| Shares: | 0.7 million
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| Price: | $15.00
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| Warrants: | No
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| Placement agent: | Allen & Co. LLC
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| Announcement date: | April 11
|
| Stock price: | $15.75 at close April 11
|
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