Community Financial Shares, Inc. Extends Rights Offering Subscription Period
Community Financial Shares, Inc., (the “Company”) (OTCQB: CFIS), the parent company of Community Bank-Wheaton/Glen Ellyn (the “Bank”), is extending the rights offering described in its prospectus filed with the Securities and Exchange Commission on February 19, 2013 (the "Rights Offering"). The Rights Offering was originally scheduled to expire on March 18, 2013 and the Company is extending the Rights Offering by four days in order to ensure that its stockholders have adequate time to consider and participate in the Rights Offering. Holders of the subscription rights will now have until 5:00 p.m. Eastern Time on March 22, 2013 to exercise their rights or to provide their custodian bank, broker, dealer or other nominee with instructions to exercise their subscription rights and their payment for shares.
As previously announced, each holder of the Company's common stock on December 20, 2012 received one non-transferable subscription right for each share of the Company’s common stock that holder owned either as a holder of record or, in the case of shares held of record by custodian banks, brokers, dealers or other nominees on holder’s behalf, as a beneficial owner of such shares. Each subscription right entitles a stockholder to purchase 2.4091 shares of common stock of the Company at a subscription price of $1.00 per share.
Other than the new expiration date for the Rights Offering, all of the terms of the Rights Offering described in the Company's prospectus dated February 14, 2013 remain the same and apply during the extended period of the Rights Offering. Full details of the Rights Offering were disclosed in the prospectus sent to the Company’s stockholders.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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