Shareholders receive one subscription right for each common share held
By Devika Patel
Knoxville, Tenn., July 1 - Eastern Virginia Bankshares, Inc. said it completed an oversubscribed $5 million rights offering of stock on June 28. The deal priced on April 24.
The company offered rights for up to 1,098,901 common shares at $4.55 apiece, a 23.14% discount to the closing share price of $5.92 on April 23. Investors received one subscription right for every common share held as of 5 p.m. ET on May 3.
Each right will entitle its holder to purchase 0.181051448 of a share.
Proceeds will be used for general corporate purposes.
The bank holding company is based in Tappahannock, Va.
| Issuer: | Eastern Virginia Bankshares, Inc.
|
| Issue: | Common stock
|
| Amount: | $5 million
|
| Shares: | 1,098,901
|
| Price: | $4.55
|
| Warrants: | No
|
| Pricing date: | April 24
|
| Settlement date: | June 28
|
| Stock symbol: | Nasdaq: EVBS
|
| Stock price: | $5.92 at close April 23
|
| Market capitalization: | $30.45 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.
