New Issue: Manhattan Bancorp completes $15 million private placement of shares

By Devika Patel

Knoxville, Tenn., Dec. 31 - Manhattan Bancorp said it settled a $15 million private placement of stock with a $13.73 million tranche. The deal priced May 14, 2008, and the first closing occurred on June 12, 2008 for $1.28 million.

The company sold 1.5 million common shares at $10.00 per share to Carpenter Fund Manager GP, LLC. It sold 128,175 shares in the first tranche.

Based in Los Angeles, Manhattan Bancorp is the holding company of Bank of Manhattan.

Issuer:	Manhattan Bancorp
Issue:	Common stock
Amount:	$15 million
Shares:	1.5 million
Price:	$10.00
Investor:	Carpenter Fund Manager GP, LLC
Pricing date:	May 14, 2008
Settlement date:	Dec. 31 (for $13,731,825)
Stock symbol:	OTCBB: MNHN
Stock price:	$7.85 at close Dec. 30
Market capitalization:	$20.5 million

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