Proceeds finance organic growth; FBR Capital Markets was underwriter
By Devika Patel
Knoxville, Tenn., Nov. 16 - Hanmi Financial Corp. said FBR Capital Markets & Co., the underwriter for a public sale of stock, has elected to exercise the deal's greenshoe in full for a total of $80.5 million. The deal was announced Monday and priced for $70 million with a $10.5 million greenshoe on Tuesday.
The company sold 100,625,000 common shares at $0.80 apiece. The per-share price reflects an 18.37% discount to the closing share price, $0.98, on Nov. 14. Of the shares, 13,125,000 were part of the fully exercised greenshoe.
Settlement is expected Nov. 18.
Proceeds will be used to support future organic growth and future acquisition driven growth and for working capital and other general corporate purposes.
Based in Los Angeles, Hanmi Financial is the holding company for Hanmi Bank, a state-chartered bank.
| Issuer: | Hanmi Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $80.5 million (including $10.5 million greenshoe)
|
| Shares: | 100,625,000
|
| Price: | $0.80
|
| Warrants: | No
|
| Underwriter: | FBR Capital Markets & Co.
|
| Announcement date: | Nov. 14
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Stock symbol: | Nasdaq: HAFC
|
| Stock price: | $0.98 at close Nov. 14
|
| Market capitalization: | $131.46 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
