Proceeds used for corporate purposes, including capital contributions
By Devika Patel
Knoxville, Tenn., May 24 – First Internet Bancorp said it priced a $21.5 million public sale of stock on Monday.
The company will sell 895,955 common shares at $24.00 per share. The price per share reflects a 0.17% premium to the May 20 closing share price of $23.96.
Sandler O’Neill + Partners LP is the underwriter.
Settlement is expected May 26.
Proceeds will be used for general corporate purposes, including capital contributions to the bank to support organic growth and repaying or redeeming debt.
The bank holding company is based in Indianapolis.
| Issuer: | First Internet Bancorp
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| Issue: | Common stock
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| Amount: | $21,502,920
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| Shares: | 895,955
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| Price: | $24.00
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| Warrants: | No
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| Underwriter: | Sandler O’Neill + Partners LP
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| Pricing date: | May 23
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| Settlement date: | May 26
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| Stock symbol: | Nasdaq: INBK
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| Stock price: | $23.96 at close May 20
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| Market capitalization: | $114.59 million
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