BRYN MAWR, Pa., May 13, 2010 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), announced today that it has entered into definitive purchase agreements directly with several investors to sell 1,548,167 shares of its common stock, no par value per share (the "Common Stock") to such investors, at a price of $17.00 per share. The Corporation expects to receive net proceeds of approximately $24.7 million after deducting placement agents' fees and other offering expenses. The Corporation currently intends to use the net proceeds for working capital and general corporate purposes, which may include, but not be limited to, investments in the Bank and other subsidiaries for regulatory capital purposes, funding asset growth and financing possible mergers or acquisitions. The closing of the offering is expected to occur on or about May 18, 2010, subject to customary closing conditions.
Bryn Mawr Bank Corporation Announces $26.3 Million Registered Direct Offering
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