Trustar Bankshares to sell USD 28.1 million shares in private placement at USD 12.50 each
Bitget2026/09/25 12:01- Trustar Bankshares agreed a USD 28.1 million private placement led by JCSD Mclean Investors, LLC, with participation from certain directors.
- Deal set to issue 1,372,700 common shares at USD 12.50 plus 877,300 Series A non-voting convertible preferred shares at USD 12.50.
- Preferred stock used to limit JCSD voting ownership to 9.9%.
- Closing tied to Trustar Bank’s acquisition of certain Forbright Bank branches, expected as early as Q4 2026.
- Proceeds earmarked for general corporate purposes, including bolstering bank capital following the branch acquisition.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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