Baird served as a book-running manager on this offering.
AboutStoneCastle Financial Corp. (“StoneCastle” or the “Company”) (NASDAQ-GS: BANX) recently completed a follow-on offering of 1,802,000 common shares at a price of $23.00 per share, generating gross proceeds of approximately $41.4 million. The Company intends to use the net proceeds from the offering to make new investments in community banks and for general corporate purposes.
StoneCastle is a non-diversified, closed-end management investment company that has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986. The Company’s investment objective is to provide stockholders with current income, and to a lesser extent capital appreciation, through preferred equity, subordinated debt and common equity investments in U.S. domiciled community banks. StoneCastle Financial is managed by its external advisor StoneCastle Asset Management LLC. StoneCastle is headquartered in New York, New York.
For additional information about this transaction, please contact:
- November 2014
- StoneCastle Financial Corp.
- Technology & Services
- Target Location
- North America
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