Horizon Bancorp, Inc. announced the pricing of a public offering of 6,207,000 shares of its common stock at a price to the public of $14.50 per share.
The aggregate gross proceeds from the offering are approximately $90,001,500.
The underwriters have been granted an option to purchase additional shares, and the net proceeds will be used for general corporate purposes.
Common Stock Offering
6,207,000 shares priced at $14.50 per share.
Underwriters' Option
Underwriters have the option to purchase an additional 931,050 shares.
Use of Proceeds
Net proceeds will support general corporate purposes, including balance sheet repositioning.
- The pricing of the offering will affect the company's capital structure and financial position.
- The additional shares available for purchase by underwriters may impact market demand.
- The use of proceeds for corporate purposes indicates strategic financial planning.
Horizon Bancorp's successful pricing of the common stock offering demonstrates investor confidence and supports the company's strategic initiatives for financial stability and growth.