In addition, the Company granted the new purchaser an option to purchase an additional 64,784 shares of common stock and a warrant for 32,392 shares of its non-voting common stock, which will enable the new investor to make a total investment of $5 million. The option will not be exercisable until the Company obtains shareholder approval and will have a term of five business days.More detailed information regarding the private placement will be included in the Company’s 8-K filing with the Securities and Exchange Commission.
Porter Bancorp, Inc. Raises Additional $4.25 Million In Stock Offering
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