Horizon Bancorp launches public offering of shares
Aug 20, 8:12 PM
HBNC
- Horizon Bancorp has initiated an underwritten public offering for its common stock shares.
- The company's shares dropped by 1.78% in after-hours trading, closing at $15.75 following the announcement.
- The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares offered.
- Proceeds from the offering are expected to be used for general corporate purposes.
Recommendation Rating: Neutral
Horizon Bancorp (NASDAQ: HBNC) made an announcement on Wednesday regarding the initiation of an underwritten public offering for its common stock shares.
Following the announcement, the company's shares experienced a decrease of 1.78% in the after-hours market, settling at a price of $15.75.
Furthermore, Horizon Bancorp plans to provide the underwriters with a 30-day option to acquire up to an additional 15% of the total shares offered.
The net proceeds from this offering are anticipated to be allocated for various general corporate purposes.