Select Bancorp Announces Pricing of Common Stock Offering
Select Bancorp, Inc. (SLCT)
Last select bancorp, inc. earnings: 1/24 04:35 pm
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US:NASDAQ Investor Relations:
selectbank.com/about-us/news-and-annual-reports
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Source: GlobeNewswire
DUNN, N.C., Aug. 28, 2018 (GLOBE NEWSWIRE) -- Select Bancorp, Inc. (NASDAQ: SLCT) (the “Company”), the holding company for Select Bank & Trust Company (the “Bank”), today announced the pricing of an underwritten public offering of 4,583,334 shares of the Company’s common stock at a public offering price of $12.00 per share for gross proceeds of approximately $55.0 million. The Company has granted the underwriter a 30-day option to purchase up to an additional 687,500 shares of its common stock. FIG Partners, LLC is serving as the sole book-running manager for this offering. The Company expects to close the transaction, subject to customary closing conditions, on or about August 30, 2018. The Company expects to receive net proceeds of approximately $52.0 million after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from this offering to make investments in the Bank, to enhance its capital position and that
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