Company sells 972,059 common shares at $16.00 per share
By Devika Patel
Knoxville, Tenn., June 30 – MVB Financial Corp. completed a $15.55 million private placement of stock on June 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 972,059 common shares at $16.00 per share. The price per share is identical to the June 27 closing share price.
The company also said it sold $7.8 million of preferred stock and $29.4 million of subordinated debt in a separate offering.
Proceeds from both sales will be used for organic and strategic growth and other general corporate purposes.
Based in Fairmont, Va., MVB is a bank holding company.
| Issuer: | MVB Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $15,552,944
|
| Shares: | 972,059
|
| Price: | $16.00
|
| Warrants: | No
|
| Settlement date: | June 30
|
| Stock symbol: | OTCBB: MVBF
|
| Stock price: | $16.00 at close June 27
|
| Market capitalization: | $125.5 million
|
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