Equity sold at $0.40 per share, an 8.11% premium, to bolster capital
By Devika Patel
Knoxville, Tenn., May 29 – AB&T Financial Corp. said it raised $7.8 million in a private placement of common equity.
The company sold common equity at $0.40 per share. The price per share is an 8.11% premium to $0.37, the May 28 closing share price.
Proceeds will bolster the capital position of the bank.
The bank holding company is based in Gastonia, N.C.
| Issuer: | AB&T Financial Corp.
|
| Issue: | Common equity
|
| Amount: | $7.8 million
|
| Price: | $0.40
|
| Warrants: | No
|
| Announcement date: | May 29
|
| Stock symbol: | OTCBB: ABTO
|
| Stock price: | $0.37 at close May 28
|
| Market capitalization: | $987,240
|
|
|
© 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.
