By Devika Patel
Knoxville, Tenn., March 31 - Northeast Bancorp said it plans a $16.2 million private placement of stock.
The company will sell common shares at $13.93 apiece.
Proceeds will be used to retire debt and for general corporate purposes.
The bank holding company is based in Lewiston, Maine.
Issuer: | Northeast Bancorp
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Issue: | Common stock
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Amount: | $16.2 million
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Price: | $13.93
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Warrants: | No
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Pricing date: | March 31
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Stock symbol: | Nasdaq: NBN
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Stock price: | $14.05 at close March 30
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Market capitalization: | $32.6 million
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