MID AM, INC. ANNOUNCES PROPOSED PUBLIC OFFERING
MID AM, INC. ANNOUNCES PROPOSED PUBLIC OFFERING BOWLING GREEN, Ohio, March 19 /PRNewswire/ -- Mid Am, Inc.
(NASDAQ: MIAM) announced that it has filed a registration statement with the Securities and Exchange Commission concerning a proposed public offering of one million shares of its $ Cumulative Convertible Preferred Stock, Series A. The price of the shares of the preferred stock proposed to be sold in the offering is $25. The underwriters of the proposed offering will receive an option to purchase up to an additional 150,000 shares of the preferred stock, solely for the purpose of covering overallotments, if any. The managing underwriter, from whom preliminary prospectuses will be available, will be McDonald & Company Securities, Inc., 2100 Society Building, Cleveland, OH 44114.
Proceeds of the offering will be used for general corporate purposes, including possible future acquisitions or investments in and extension of credit to Mid Am subsidiaries. It is anticipated that the offering will commence in late April, 1992. A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Mid Am, Inc. is a Bowling Green, Ohio based multi-bank holding company which owns three commercial banks and one thrift, having a total of 52 banking offices located in twelve counties in Northwest and West-Central Ohio. Operating through its subsidiaries, the company offers a wide range of lending, depository, fiduciary and related financial services to individual and business customers. -0- 3/19/92 /CONTACT: Dennis L. Nemec, W. Granger Souder, or Cynthia A. Rossman, 419-352-5271, all of Mid Am, Inc./ (MIAM) CO: Mid Am, Inc. ST: Ohio IN: FIN SU:
CG -- CL015 -- 9915 03/19/92 18:22 EST
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|Date:||Mar 19, 1992|
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