Offering sells securities at $5.00 per share or per series A preferred
By Devika Patel
Knoxville, Tenn., Oct. 15 - TGR Financial, Inc. settled a $2 million private placement of stock and series A nonvoting convertible preferred stock on Oct. 10, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal was announced as a $225 million offering on Sept. 25 and was arranged on Sept. 19.
The company sold 273,427 common shares and 126,573 preferreds at $5.00 per share or preferred.
Each preferred is convertible into one common share.
Proceeds will be used for organizational expenses and general working capital.
Based in Naples, Fla., TGR is the private holding company of First National Bank of the Gulf Coast.
| Issuer: | TGR Financial, Inc.
|
| Issue: | Common stock, series A nonvoting convertible preferred stock
|
| Amount: | $2 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Pricing date: | Sept. 19
|
| Announcement date: | Sept. 25
|
| Settlement date: | Oct. 10
|
|
|
| Common stock
|
| Amount: | $1,367,135
|
| Shares: | 273,427
|
|
|
| Preferreds
|
| Amount: | $632,865
|
| Preferreds: | 126,573
|
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