By Devika Patel
Knoxville, Tenn., March 30 - First Merchants Corp. arranged a $24.15 million registered direct offering of stock, according to a prospectus supplement filed with the Securities and Exchange Commission.
The company will sell 4.2 million common shares at $5.75 per share.
Proceeds will be used for working capital and general corporate purposes.
First Merchants is a Muncie, Ind., financial services holding company.
| Issuer: | First Merchants Corp.
|
| Issue: | Common shares
|
| Amount: | $24.15 million
|
| Units: | 4.2 million
|
| Price: | $5.75
|
| Warrants: | No
|
| Pricing date: | March 30
|
| Stock symbol: | Nasdaq: FRME
|
| Stock price: | $6.38 at close March 29
|
| Market capitalization: | $135 million
|
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