Published on 7/10/2006 in the Prospect News PIPE Daily.
New Issue: Newnan Coweta Bancshares plans placement for up to $3.02 million
By Sheri Kasprzak
New York, July 10 - Newnan Coweta Bancshares, Inc. negotiated a private placement for up to $3,024,000.
The non-brokered deal includes up to 84,000 shares at $36.00 apiece.
Proceeds will be used for the capital accounts of subsidiary bank Neighborhood Community Bank. The rest will be used for asset growth and general corporate purposes.
Based in Newnan, Ga., Newnan Coweta Bancshares is a holding company for Neighborhood Community Bank, a chain of banks in Georgia.
| Issuer: | Newnan Coweta Bancshares, Inc.
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| Issue: | Stock
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| Amount: | $3,024,000
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| Shares: | 84,000
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| Price: | $36.00
|
| Warrants: | No
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| Placement agent: | Non-brokered
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| Pricing date: | July 6
|
| Stock symbol: | OTCBB: NWCB
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| Stock price: | $34.00 at close July 6
|
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