By Sheri Kasprzak
Atlanta, Feb. 23 - Illini Corp. said it has wrapped a private placement for $4,174,500, an amount more than its originally planned offering.
The company sold a total of 126,500 shares at $33 each to accredited investors.
The offering was originally announced Feb. 3 as a $4 million deal of up to 126,500 at $31.62 each.
Howe Barnes Investments Inc. was the placement agent.
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.
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| Issue: | Stock
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| Amount: | $4.17 million
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| Shares: | 126,500
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| Price: | $33.00
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| Warrants: | No
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| Placement agent: | Howe Barnes Investments Inc.
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| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 17
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| Stock price: | $35.00 at close Feb. 3
|
| Stock price: | $37.50 at close Feb. 17
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