Meta Financial completes $34.25 million private placement of shares

Company sells shares at $21.91 apiece; Sandler O'Neill was the agent

By Devika Patel

Knoxville, Tenn., Oct. 1 - Meta Financial Group, Inc. settled a $34.25 million private placement of stock on Oct. 1, according to an 8-K filed Monday with the Securities and Exchange Commission. Sandler O'Neill & Partners, LP was the agent.

The company sold 1,563,100 common shares at $21.91 per share. The price per share reflects a 9.65% discount to the Sept. 28 closing share price of $24.25.

The investors were Altamont Capital Partners, Philadelphia Financial Management of San Francisco, LLC, NetSpend Holdings, Inc. Brookside Equity Partners LLC, JTH Holding Inc., Liberty Tax Service, Weintraub Capital Management, LP and Harvest Capital Strategies LLC.

Proceeds will be used to further capitalize MetaBank and for general corporate purposes.

The financial services provider is based in Sioux Falls, S.D.

Issuer:	Meta Financial Group, Inc.
Issue:	Common stock
Amount:	$34,247,521
Shares:	1,563,100
Price:	$21.91
Warrants:	No
Agent:	Sandler O'Neill & Partners, LP
Investors:	Altamont Capital Partners, Philadelphia Financial Management of San Francisco, LLC, NetSpend Holdings, Inc., Brookside Equity Partners LLC, JTH Holding Inc., Liberty Tax Service, Weintraub Capital Management, LP, Harvest Capital Strategies LLC
Settlement date:	Oct. 1
Stock symbol:	Nasdaq: CASH
Stock price:	$24.25 at close Sept. 28
Market capitalization:	$88.84 million

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