Broadway Financial raises $150,000 through private placement of shares

Company sells 115,386 common shares to insiders at $1.30 per share

By Devika Patel

Knoxville, Tenn., July 3 - Broadway Financial Corp. completed a $150,000 private placement of stock with its officers on July 2, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company sold 115,386 common shares at $1.30 per share. The price per share is identical to the June 30 closing share price.

The investors were Paul Hudson, Virgil Roberts, Robert Davidson, A. Odell Maddox, Daniel Medina and Wayne Bradshaw. Each investor bought $25,000 of shares.

Los Angeles-based Broadway Financial is the holding company of Broadway Federal Bank, fsb, a community bank with branches in the Los Angeles area.

Issuer:	Broadway Financial Corp.
Issue:	Common stock
Amount:	$150,000
Shares:	115,386
Price:	$1.30
Warrants:	No
Agent:	Sandler O'Neill & Partners, LP
Investors:	Paul Hudson (for $25,000), Virgil Roberts (for $25,000), Robert Davidson (for $25,000), A. Odell Maddox (for $25,000), Daniel Medina (for $25,000) and Wayne Bradshaw (for $25,000)
Settlement date:	July 2
Stock symbol:	Nasdaq: BYFC
Stock price:	$1.30 at close June 30
Market capitalization:	$2.27 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.