By Devika Patel
Knoxville, Tenn., May 26 - Hanmi Financial Corp. arranged a $210 million private placement of stock with Woori Finance Holdings Co. Ltd. on Tuesday, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Woori may purchase an additional $30 million in shares.
In addition to Woori's investment, Hanmi intends to commence a $120 million offering that will be comprised of a $60 million rights offering to existing stockholders and a $60 million registered best efforts offering of stock.
The company will sell the common shares to Woori at $1.20 apiece.
Hanmi intends to contribute a substantial amount of the net proceeds from this investment as new capital into Hanmi Bank.
In the rights and registered offerings, the company will sell the shares at the same price.
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: | $210 million
|
| Greenshoe: | $30 million
|
| Price: | $1.20
|
| Investor: | Woori Finance Holdings Co. Ltd.
|
| Warrants: | No
|
| Pricing date: | May 25
|
| Stock symbol: | Nasdaq: HAFC
|
| Stock price: | $2.03 at close May 25
|
| Market capitalization: | $127 million
|
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