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Summit Financial Group Announces Entry Into Securities Purchase Agreement to Raise Capital

Monday, 25 Aug 2014 06:00am EDT 

Summit Financial Group Inc:Enters into a Securities Purchase Agreement with Castle Creek Capital Partners V, LP.Castle Creek has agreed to acquire in a private placement shares of common stock of Summit in an amount that is expected to about 9.9 pct of the outstanding Common Stock following consummation of the Private Placement at the price of $9.75 per share.Company will receive about $10.2 mln in net proceeds in the Private Placement after the consummation of the transactions contemplated by the Purchase Agreement.Private Placement will consist of two closings. 

Latest Developments for Summit Financial Group Inc

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0.26 +2.56%
29 Sep 2014