Categories : Stock Offering

 

Stock Offering Update:

In a filing on Friday, UBT has increased the number of shares it's offering from 5 Million Shares to 7 Million Shares.

It looks like what happened is this:  The bank needs $20M in additional capital.  The current market share is around $3 per share.  Therefore the number of shares they must sell just increased to 7 Million.

It also says that there is not much demand for shares in our bank, which shouldn't be too surprising. 

Assuming they are able to sell the 7 Million shares, our current position just got more diluted.

 Posted on : December 13, 2010
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