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SmartFinancial, Inc. (SMBK) Closes $38.69M Public Offering of Common Stock
Knoxville, Tenn.-based SmartFinancial Inc. completed its previously announced public offering of 2,010,084 common shares for net proceeds of approximately $33.22 million.
The offering included the sale of 1,840,000 shares, including 240,000 shares sold under the underwriters' overallotment option. The offering also included 170,084 common shares sold by certain company shareholders.
The selling shareholders received approximately $3.3 million in net proceeds, excluding applicable strike prices on exercised share options immediately before closing.
Hovde Group, LLC acted as Co-Manager in the Offering.
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