Bookrunner Sandler O'Neill assists; greenshoe partially exercised
By Devika Patel
Knoxville, Tenn., May 21 - Northeast Bancorp said it raised about $55 million in a public offering of stock. The offering was announced May 3.
The company sold 6,875,917 common shares. Of the shares, 625,917 were part of the partially exercised greenshoe.
The shares were 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.
| Issuer: | Northeast Bancorp
|
| Issue: | Common stock
|
| Amount: | $55 million
|
| Shares: | 6,875,917
|
| Warrants: | No
|
| Bookrunners: | Sandler O'Neill + Partners, LP
|
| Announcement date: | May 3
|
| Settlement date: | May 21
|
| Stock symbol: | Nasdaq: NBN
|
| Stock price: | $8.00 at close May 18
|
| Market capitalization: | $28.41 million
|
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