1,587,000 shares sold to finance growth and acquisition opportunities
By Devika Patel
Knoxville, Tenn., Nov. 27 - First Internet Bancorp said the underwriters for its public sale of stock opted to exercise the deal's $4.14 million greenshoe in full, lifting total proceeds to $31.74 million. The deal was announced Sept. 30 and priced for $27.6 million with the greenshoe on Nov. 21.
The company sold 1,587,000 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. Of the shares, 207,000 were part of the fully exercised greenshoe.
Sandler O'Neill & Partners, LP was the 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: | $31.74 million (including $4.14 million greenshoe)
|
| Shares: | 1,587,000
|
| 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
|
| Settlement date: | Nov. 27
|
| Stock symbol: | Nasdaq: INBK
|
| Stock price: | $21.50 at close Nov. 20
|
| Market capitalization: | $64.8 million
|
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