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Stock impact report

Mackinac Financial Corporation Announces Closing of Common Stock Offering

Mackinac Financial Corporation (MFNC) 
Last mackinac financial corporation earnings: 1/29 09:00 am Check Earnings Report
Company Research 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 Show less Read more
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