FIG Has Raised More Than $4.4 Billion In Equity Capital In
133 Offerings To Date
ATLANTA, June 21, 2018 — Citizens Community Bancorp, Inc. (NASDAQ:CZWI) has announced a $65 million private placement agreement.
On June 20, 2018, Citizens Community Bancorp, Inc. (Citizens) entered into a securities purchase agreement and a registration rights agreement to sell 500,000 shares of the Company’s Series A Mandatorily Convertible Non-Cumulative Non-Voting Perpetual Preferred Stock, par value $0.01 per share, at $130 per share, to institutional and accredited investors.
Each share will be mandatorily convertible into 10 shares of common stock following stockholder approval. Citizens intends to use the net proceeds to finance a portion of the acquisition of United Bank and to pay related expenses, to support its capital ratios in connection with the acquisition, and for general corporate purposes, including organic growth, funding acquisition opportunities, de novo branching into new markets or other organic business expansion.
The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Bob Kotecki, Principal; Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets; and Brian Flaherty, Associate.
More information is available here.
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