Mackinac Financial Corporation Announces Pricing of Common Stock Offering
Mackinac Financial Corporation (MFNC)
Last mackinac financial corporation earnings: 1/29 09:00 am
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snl.com/irweblinkx/corporateprofile.aspx?iid=1019295
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Source: GlobeNewswire
MANISTIQUE, Mich., June 13, 2018 (GLOBE NEWSWIRE) -- The Directors of Mackinac Financial Corporation (Nasdaq:MFNC) (Mackinac), the holding company for mBank, today announced the pricing of its underwritten public offering of 1,935,484 shares of its common stock at a price of $15.50 per share, for gross proceeds of $30.0 million. Net proceeds to Mackinac, after deducting underwriting discounts and commissions, but before deducting estimated offering expenses payable by Mackinac, are expected to be approximately $28.5 million. Mackinac has granted the underwriters an option, exercisable in whole or in part for 30 days, to purchase up to an additional 290,323 shares of its common stock at the public offering price, less the underwriting discount. Piper Jaffray & Co. is serving as book-running manager for the offering. Hovde Group, LLC is serving as co-manager for the offering. Mackinac intends to use a portion of the net proceeds of this offering to fund a portion of the conside
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