Community Financial Group, Inc. Announces Exercise of Warrants.NASHVILLE Nashville, city (1990 pop. 487,969), state capital, coextensive with Davidson co., central Tenn., on the Cumberland River, in a fertile farm area; inc. as a city 1806, merged with Davidson co. 1963. , Tenn.--(BUSINESS WIRE)--Jan. 4, 1999--Community Financial Group, Inc. (the "Company"), (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CFGI CFGI Comité Français de Géologie de l'Ingénieur et de l'Environnement CFGI Confidential Foreign Government Information ), holding company of The Bank of Nashville, today announced that 1,752,992 warrants, representing the right to acquire common shares of the Company at an exercise price of $12.50, were exercised in the fourth quarter of 1998. This brings the total number of warrants exercised to 2,002,337, of the originally issued number of 4,744,927. Total proceeds generated from the exercise of the warrants were approximately $25,029,212.50, and 2,002,337 common shares of the Company were issued. At December 31, 1998, the Company had 4,216,531 common shares outstanding, compared to 2,460,895 shares outstanding at September 30, 1998. All warrants not exercised by the close of business on December 31, 1998 have expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. . Warrants exercised in the fourth quarter, included in the above number, proceeds generated therefrom there·from adv. From that place, time, or thing. Adv. 1. therefrom - from that circumstance or source; "atomic formulas and all compounds thence constructible"- W.V. , and common shares outstanding at December 31, 1998 are subject to final verification by the Company's transfer agent. The Company is evaluating various alternative uses for the capital generated as a result of the exercise of the warrants. |
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