Funds used for general corporate purposes; shares sold at $1.85 each
By Devika Patel
Knoxville, Tenn., Feb. 16 - BNCCorp, Inc. said it has received subscriptions for a $17.02 million private placement of stock.
The company will sell 9.2 million common shares at $1.85 apiece. The price per share is a 63% discount to the Feb. 15 closing share price of $5.00.
Proceeds will be used for general corporate purposes.
BNCCorp is a bank holding company in Bismarck, N.D.
| Issuer: | BNCCorp, Inc.
|
| Issue: | Common shares
|
| Amount: | $17.02 million
|
| Shares: | 9.2 million
|
| Price: | $1.85
|
| Warrants: | No
|
| Pricing date: | Feb. 16
|
| Stock symbol: | Pink Sheets: BNCC
|
| Stock price: | $5.00 at close Feb. 15
|
| Market capitalization: | $9.08 million
|
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