By Sheri Kasprzak
New York, Nov. 15 - DNB Financial Corp. has concluded a private placement of stock for $5,580,330.
The company issued 265,730 shares at $21.00 each to 46 individuals and organizations on a non-brokered basis.
Directors and officers of the company bought a total of 56,082 shares.
Proceeds will be used for general corporate purposes.
Based in Downingtown, Pa., DNB is the holding company for Downingtown National Bank, which operates 10 branches in Chester County, Pa.
| Issuer: | DNB Financial Corp.
|
| Issue: | Stock
|
| Amount: | $5,580,330
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| Shares: | 265,730
|
| Price: | $21.00
|
| Warrants: | No
|
| Settlement date: | Nov. 14
|
| Stock price: | $21.50 at close Nov. 14
|
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