MidWestOne Raises $8.4M in Private Placement
Update: MidWestOne's private placement featured in Chicago Daily Law Bulletin's "In the News" section from July 10, 2015.
MidWestOne Financial Group, the parent company of MidWestOne Bank, has raised approximately $8.4 million in equity through the private placement of 300,000 shares of newly issued common stock at $28 per share, with each purchaser being an existing MidWestOne shareholder. The sale closed on Tuesday, June 23rd. The Barack Ferrazzano Financial Institutions Group acted as legal counsel for MidWestOne in its private placement. Barack Ferrazzano's legal team was led by Robert M. Fleetwood and Emily N. Henkel.
"We believe our past results have provided our existing institutional shareholders with confidence in MidWestOne," said Charles N. Funk, President and Chief Executive Officer of MidWestOne. "We are gratified by the interest shown in our company since our announced merger with Central Bancshares. This new capital will help the company continue to grow and realize our financial goals."
Barack Ferrazzano Financial Institutions Group
In recent years, our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled-over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to SNL Financial. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2015 report.
Follow us on LinkedIn and on Twitter @BFKNLaw.