MetroCorp wraps $46.01 million public stock sale; greenshoe exercised

Keefe, Bruyette & Woods was underwriter; shares sold at $9.00 apiece

By Devika Patel

Knoxville, Tenn., May 22 - MetroCorp Bancshares, Inc. settled a $46.01 million public sale of stock on May 21, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced for $40.01 million with a $6 million greenshoe on May 16.

The company sold 5,111,750 common shares at $9.00 apiece. The per-share price reflects a 21.67% discount to the closing share price, $11.49, on May 16. Of the shares, 666,750 were part of the fully exercised greenshoe.

Keefe, Bruyette & Woods, Inc. was the underwriter.

Houston-based MetroCorp Bancshares is the holding company for MetroBank, NA.

Issuer:	MetroCorp Bancshares, Inc.
Issue:	Common stock
Amount:	$46,005,750 (including $6,000,750 greenshoe)
Shares:	5,111,750
Price:	$9.00
Warrants:	No
Underwriter:	Keefe, Bruyette & Woods, Inc.
Pricing date:	May 16
Settlement date:	May 21
Stock symbol:	Nasdaq: MCBI
Stock price:	$11.49 at close May 15
Market capitalization:	$127.47 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.