Proceeds to be used to increase loan portfolio, working capital
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – Manhattan Bridge Capital, Inc. priced $4 million of common stock in a public offering with a 45-day over-allotment option for 100,840 more shares, according to a news release.
The company sold 672,269 common shares at $5.95 per share, which is a 7.18% discount to the company’s closing share price on Aug. 8.
Aegis Capital Corp. is the bookrunner.
Proceeds will be used to increase the company’s loan portfolio and for general corporate purposes and working capital.
Manhattan Bridge Capital is a New York-based real estate investment trust that originates, services and manages a portfolio of first mortgage loans.
| Issuer: | Manhattan Bridge Capital Inc.
|
| Issue: | Common stock
|
| Amount: | $4 million
|
| Greenshoe: | For 100,840 shares
|
| Shares: | 672,269
|
| Price: | $5.95
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 15
|
| Stock symbol: | Nasdaq: LOAN
|
| Stock price: | $6.41 at close Aug. 8
|
| Market capitalization: | $43.83 million
|
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