Proceeds earmarked for working capital, general corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 14 - Hanmi Financial Corp. negotiated a registered direct offering of warrants with Cappello Capital Corp., according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will raise $4.8 million when the warrants are exercised for working capital and general corporate purposes.
Hanmi will sell 4 million warrants, which are each exercisable at $1.20. The strike price is a discount to the closing price of the stock on Oct. 13 of $1.27.
Based in Los Angeles, Hanmi Financial is the holding company for Hanmi Bank, a state-chartered bank.
| Issuer: | Hanmi Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $4.8 million
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| Warrants: | 4 million
|
| Warrant strike price: | $1.20
|
| Investor: | Cappello Capital Corp.
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| Pricing date: | Oct. 14
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| Stock symbol: | OTCBB: HAFC
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| Stock price: | $1.27 at close Oct. 14
|
| Market capitalization: | $192.02 million
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