Northeast Bancorp announces plans for public sale of common stock

Offering conducted by Sandler O'Neill to finance corporate purposes

By Devika Patel

Knoxville, Tenn., May 3 - Northeast Bancorp will price a public offering of voting and non-voting common stock, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal has a 15% greenshoe.

The company will sell 4.76 million common shares, with an additional 149,952 shares as part of the greenshoe.

The shares are being offered through Sandler O'Neill + Partners, LP on a firm commitment basis.

Proceeds will be used for general corporate purposes.

The bank holding company is based in Lewiston, Maine.

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