By Sheri Kasprzak
Atlanta, Feb. 3 - Illini Corp. said it will head to the private placement market with a $4 million offering of stock.
The deal includes up to 126,500 shares at $31.62 each.
Howe Barnes Investments Inc. is the placement agent in the offering, which is expected to close in mid-February.
Based in Springfield, Ill., Illini is a holding company for Illini Bank in central Illinois. The proceeds from the deal will be used to improve the company's capital ratios.
| Issuer: | Illini Corp.
|
| Issue: | Stock
|
| Amount: | $4 million
|
| Shares: | 126,500
|
| Price: | $31.62
|
| Warrants: | No
|
| Placement agent: | Howe Barnes Investments Inc.
|
| Pricing date: | Feb. 3
|
| Stock price: | $35.00 at close Feb. 3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
