Mackinac Financial Corporation Announces Commencement 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 12, 2018 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq:MFNC) (“Mackinac”), the holding company for mBank, announced today that it has commenced an underwritten public offering of Mackinac’s common stock. Mackinac also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering. Piper Jaffray & Co. is serving as the sole book-running manager and Hovde Group, LLC is serving as co-manager for the offering. The shares will be issued pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on Form S-3 (File No. 333-224884) and a prospectus supplement to be filed with the SEC. Mackinac intends to use a portion of the net proceeds of this offering to fund a portion of the consideration payable in the acquisition of Lincoln Community Bank (Merrill, Wisconsin), to pay down certain debt obligations of Mackinac, and to use
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