300,000 common shares sold at $28.00 apiece to retire debt instruments
By Devika Patel
Knoxville, Tenn., June 23 – MidWestOne Financial Group, Inc. settled an $8.4 million private placement of stock on June 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on June 22.
The company sold 300,000 common shares at $28.00 per share, which is a 13.18% discount to the June 19 closing share price of $32.25.
Proceeds will be used to retire debt instruments and support the growth of MidWestOne Bank and Central Bank.
MidWestOne is the holding company for MidWestOne Bank. It is based in Iowa City, Iowa.
| Issuer: | MidWestOne Financial Group, Inc.
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| Issue: | Common shares
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| Amount: | $8.4 million
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| Shares: | 300,000
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| Price: | $28.00
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| Warrants: | No
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| Pricing date | June 22
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| Settlement date: | June 23
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| Stock symbol: | Nasdaq: MOFG
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| Stock price: | $32.25 at close June 19
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| Market capitalization: | $366.16 million
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