Deal conducted by Aegis, funds working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 31 – Manhattan Bridge Capital, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $600,000 greenshoe in full, lifting total proceeds of the offering to $4.6 million. The deal was announced Aug. 9 and priced for $4 million with the greenshoe the same day.
The company sold 773,109 common shares at $5.95 per share, which is a 7.18% discount to the company’s $6.41 closing share price on Aug. 8. Of the shares, 100,840 were part of the fully exercised greenshoe.
Aegis Capital Corp. was 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
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| Amount: | $4.6 million, including $600,000 greenshoe of 100,840 shares
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| Greenshoe: | For 100,840 shares
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| Shares: | 773,109
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| Price: | $5.95
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| Warrants: | No
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| Bookrunner: | Aegis Capital Corp.
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| Announcement date: | Aug. 9
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 31
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| Stock symbol: | Nasdaq: LOAN
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| Stock price: | $6.41 at close Aug. 8
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| Market capitalization: | $48.9 million
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