Deal conducted by Aegis, funds working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., July 28 – Manhattan Bridge Capital Inc. said it priced a $5 million public sale of stock with a $750,000 greenshoe. The deal was announced May 22.
The company will sell 1,754,386 common shares at $2.85 per share. The price per share is a 7.47% discount to the July 25 closing share price of $3.08.
Aegis Capital Corp. is the sole bookrunner.
Settlement is expected July 31.
Proceeds will be used to expand the company’s loan portfolio and for working capital and general corporate purposes.
The real estate finance company is based in Great Neck, N.Y.
| Issuer: | Manhattan Bridge Capital Inc.
|
| Issue: | Common stock
|
| Amount: | $5 million
|
| Greenshoe: | $750,000
|
| Shares: | 1,754,386
|
| Price: | $2.85
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | May 22
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Stock symbol: | Nasdaq: LOAN
|
| Stock price: | $3.08 at close July 25
|
| Market capitalization: | $11.19 million
|
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