By Sheri Kasprzak
New York, July 5 - Heritage Bankshares, Inc. wrapped the initial tranche of its planned $3.1 million private placement.
The company sold 138,505 shares in the first tranche at $15.50 each.
The complete offering, slated to close July 31, will include a total of 200,000 shares.
Proceeds will be used to increase the company's loan limits.
Based in Norfolk, Va., Heritage operates a chain of banks in Norfolk and Virginia Beach.
| Issuer: | Heritage Bankshares, Inc.
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| Issue: | Stock
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| Amount: | $3.1 million
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| Shares: | 200,000
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| Price: | $15.50
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| Warrants: | No
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| Settlement date: | June 30 (for first tranche of 138,505 shares); July 31 (for final tranche)
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| Stock symbol: | Pink Sheets: HBKS
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| Stock price: | $15.50 at close June 30
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