Horizon Bancorp, Inc. announces the completion of a common stock offering.
7,138,050 shares of common stock were sold, generating approximately $103.5 million in gross proceeds.
The net proceeds will be utilized for general corporate purposes and potentially repositioning the balance sheet.
Common Stock Offering
7,138,050 shares of common stock were sold at $14.50 per share, totaling approximately $103.5 million.
Use of Proceeds
Intends to utilize the net proceeds for general corporate purposes, including potential balance sheet repositioning.
Underwriters
Keefe, Bruyette & Woods, Inc., A Stifel Company, and Performance Trust Capital Partners, LLC were the joint book-running managers for the offering.
- The successful completion of the offering provides Horizon Bancorp with substantial funds for future operations.
- The involvement of reputable underwriters strengthens investor confidence in Horizon Bancorp's financial decisions.
With the closing of the common stock offering, Horizon Bancorp, Inc. secures essential funding for its strategic plans and operational needs.