-Farmers National Banc Corporation completes rights offering.
Global Banking News-January 28, 2011--Farmers National Banc Corporation completes rights offering(C)2011 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 28 January 2011
Farmers National Banc Corporation (OTCBB: FMNB), the Canfield, Ohio-based holding company for The Farmers National Bank, has said that 2,058,315 common shares have been subscribed for in its rights offering, and that all basic subscription rights and oversubscription privileges have been accepted.
In line with the subscriptions received in the rights offering and commitments for 2,053,136 shares by standby investors, Farmers will issue 4,111,451 common shares at a price of USD3.00 per share, with gross proceeds of nearly USD12.3m.
Farmers is now offering 888,549 common shares to the public, which will be offered and sold through Sandler O'Neill + Partners, LP at the subscription price of USD3.00 per share.
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