By Jennifer Chiou
New York, Jan. 14 - Enterprise Financial Services Corp. raised $5.19 million in the initial closing of its up to $15 million private placement of common stock with 15 accredited investors, according to an 8-K filing with the Securities and Exchange Commission.
The initial tranche settled on Tuesday.
Enterprise issued a total of 665,183 shares. The purchase price was $8.09 for company directors and officers, which was the last closing consolidated bid price of the company's stock on Jan. 11, and $7.71 for other investors.
Proceeds are earmarked for general corporate purposes.
Settlement for the remaining shares is anticipated for Jan. 22.
St. Louis-based Enterprise is a financial holding company.
| Issuer: | Enterprise Financial Services Corp.
|
| Issue: | Common stock
|
| Amount: | $15 million
|
| Shares: | 665,183 (in first tranche)
|
| Price: | $8.09 for company directors and officers and $7.71 for other investors
|
| Settlement date: | Jan. 12 (for $5,192,406); Jan. 22
|
| Stock symbol: | Nasdaq: EFSC
|
| Stock price: | $8.09 at close Jan. 11
|
| $9.22 at close Jan. 14
|
| Market capitalization: | $118.33 million
|
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