JACKSONVILLE, Fla., Aug. 9, 2013 /PRNewswire/ -- As previously announced, Jacksonville Bancorp, Inc. (the "Company") (NASDAQ: JAXB), holding company for The Jacksonville Bank, intends to conduct a rights offering to existing shareholders for the purchase of up to 10 million shares of its common stock. A record date of August 20, 2013 has been set for the planned rights offering.
Upon commencement of the planned rights offering, the Company will distribute non-transferable subscription rights to purchase shares of its common stock to each eligible holder of its common stock as of the close of business on August 20, 2013. The subscription rights will expire 30 days after commencement of the offering, unless the offering period is extended by the Company. Certain shareholders who were offerees in the Company's December 2012 private placement will not be eligible to receive rights. The number of shares of the Company's common stock purchasable upon exercise of the subscription rights will be calculated based on the total number of outstanding shares of the Company's common stock held by the eligible shareholders on August 20, 2013.
The Company has filed the registration statement relating to the securities with the SEC but it has not yet become effective. These securities may not be offered or 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 a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state or jurisdiction.