Griffin Financial assists; offering sells 1,396,364 common shares
By Devika Patel
Knoxville, Tenn., July 20 - Howard Bancorp Inc. said it settled its $10.19 million initial public offering of stock. The deal priced for $8.4 million on May 21.
The company sold 1,396,364 common shares at $7.30 apiece.
Griffin Financial Group, LLC assisted with the sale.
Proceeds will be used for expenses, for potential acquisitions and to contribute to the capital of Howard Bank.
Based in Ellicott City, Md., Howard Bancorp is the parent company of Howard Bank.
| Issuer: | Howard Bancorp Inc.
|
| Issue: | Common stock
|
| Amount: | $10,193,457
|
| Shares: | 1,396,364
|
| Price: | $7.30
|
| Warrants: | No
|
| Pricing date: | May 21
|
| Settlement date: | July 20
|
| Stock exchange: | OTCBB: HBMD
|
| Stock price: | $6.55 at close July 19
|
| Market capitalization: | $17.29 million
|
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