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MainStreet BankShares extends $1.65 million private placement of shares
By Sheri Kasprzak
Atlanta, Oct. 29 - MainStreet BankShares said Friday it plans to extend by 90 days a $1.65 million private placement.
The company announced Oct. 4 it would raise up to $1.65 million through an offering of 183,334 shares at $9 per share.
The placement was expected to expire Oct. 31, but the company's board of directors voted to extend the offering by 90 days.
Based in Martinsville, Va., MainStreet BankShares is the holding company for Smith River Community and Franklin Community banks. The company's stock has not traded since December.
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