1.38 million shares sold to finance growth, acquisition opportunities
By Devika Patel
Knoxville, Tenn., Nov. 22 - First Internet Bancorp priced a $27.6 million public sale of stock with a $4.14 million greenshoe on Nov. 21, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was announced Sept. 30.
The company will sell 1.38 million common shares at $20.00 per share. The price per share is a 6.98% discount to the Nov. 20 closing share price of $21.50. The company had previously planned to sell 1.15 million shares, according to a press release.
Sandler O'Neill & Partners, LP is the sole bookrunning manager.
Proceeds will be used to support organic growth, to pursue strategic acquisition opportunities and for other general corporate purposes.
The bank holding company is based in Indianapolis.
| Issuer: | First Internet Bancorp
|
| Issue: | Common stock
|
| Amount: | $27.6 million
|
| Greenshoe: | $4.14 million
|
| Shares: | 1.38 million
|
| Price: | $20.00
|
| Warrants: | No
|
| Bookrunner: | Sandler O'Neill + Partners, LP
|
| Co-manager: | Keefe, Bruyette & Woods, Inc.
|
| Announcement date: | Sept. 30
|
| Pricing date: | Nov. 21
|
| Upsized: | Nov. 21
|
| Stock symbol: | Nasdaq: INBK
|
| Stock price: | $21.50 at close Nov. 20
|
| Market capitalization: | $58.65 million
|
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