Company sells shares at $20.60 apiece; Sandler O'Neill was the agent
By Devika Patel
Knoxville, Tenn., May 11 - Meta Financial Group, Inc. completed a $13.18 million private placement of stock on May 9, according to an 8-K filed Friday with the Securities and Exchange Commission. Sandler O'Neill & Partners, LP was the agent.
The company sold 640,000 common shares at $20.60 per share. The price per share reflects a 0.54% premium to the May 8 closing share price of $20.49.
The investors were Altamont Capital Partners, Philadelphia Financial Management of San Francisco, LLC and Long Meadow Holdings, LP.
Proceeds will be used to capitalize the company's bank subsidiary in order to support continued growth and for working capital and other general corporate purposes.
The financial services provider is based in Storm Lake, Iowa.
| Issuer: | Meta Financial Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $13,184,000
|
| Shares: | 640,000
|
| Price: | $20.60
|
| Warrants: | No
|
| Agent: | Sandler O'Neill & Partners, LP
|
| Investors: | Altamont Capital Partners, Philadelphia Financial Management of San Francisco, LLC and Long Meadow Holdings, LP
|
| Settlement date: | May 9
|
| Stock symbol: | Nasdaq: CASH
|
| Stock price: | $20.49 at close May 8
|
| Market capitalization: | $68.03 million
|
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