Mackinac Financial Corporation Announces Closing of Common Stock Offering
Mackinac Financial Corporation (MFNC)
Last mackinac financial corporation earnings: 1/29 09:00 am
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US:NASDAQ Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=1019295
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Source: GlobeNewswire
MANISTIQUE, Mich., June 15, 2018 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq:MFNC) (the “Company”) announced today the closing of its underwritten public offering of an aggregate of 2,225,807 shares of the Company’s common stock at a price to the public of $15.50 per share. The 2,225,807 shares sold in the offering include 290,323 shares sold pursuant to the exercise of the underwriters’ purchase option. Piper Jaffray & Co. served as book-running manager for the offering. Hovde Group, LLC served as co-manager for the offering. Donnelly Penman & Partners served as financial advisor to the Company for the offering. The net proceeds to the Company after deducting underwriting discounts and commissions and expenses are expected to be approximately $32.4 million. The Company intends to use a portion of the net proceeds of the offering to fund the consideration payable in the acquisition of Lincoln Community Bank (Merrill, Wisconsin), to pay down certain debt obligat
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