Bookrunner FBR raises funds for acquisition of Eaton National Bank
By Devika Patel
Knoxville, Tenn., Nov. 1 - LCNB Corp. priced a $25 million public sale of stock with a $3.75 million greenshoe in a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 1,428,571 common shares at $17.50 apiece. The price per share is a 13.15% discount to the Oct. 31 closing share price of $20.15.
FBR Capital Markets & Co. is the sole bookrunner.
Settlement is expected Nov. 6.
Proceeds will be used to acquire all of the outstanding stock of Eaton National Bank & Trust Co. and for general corporate purposes.
The financial holding company for LCNB National Bank is based in Lebanon, Ohio.
| Issuer: | LCNB Corp.
|
| Issue: | Common shares
|
| Amount: | $25 million
|
| Greenshoe: | $3.75 million
|
| Shares: | 1,428,571
|
| Price: | $17.50
|
| Warrants: | No
|
| Bookrunner: | FBR Capital Markets & Co.
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 6
|
| Stock symbol: | Nasdaq: LCNB
|
| Stock price: | $20.15 at close Oct. 31
|
| Market capitalization: | $133.63 million
|
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