FineMark Holdings, Inc. announced that it expects to receive $82.5 million in funding from Strategic Value Bank Partners LLC and other investors
June 24, 2021
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FineMark Holdings, Inc. (OTCPK:FNBT) announced that it has entered into a binding agreement to issue 2,500,000 common stock at a price of $33 per share for gross proceeds of $82,500,000 led by a fund managed by Strategic Value Bank Partners LLC on June 25, 2021. The transaction included participation from certain qualified institutional buyers and accredited investors including new investors. The minimum investment accepted from any outside investor is $66,000. The company will issue securities pursuant to exemption provided under Regulation D.
On the same date, the company issued 818,182 shares for proceeds of $27,000,006 to Strategic Value Bank Partners LLC, and 863,636 shares for proceeds of $28,499,988 to other investors; an aggragate amount of $55,499,994 in the first tranche. The second tranche is expected to close on July 15, 2021, subject to the satisfaction of customary closing conditions..
FineMark Holdings, Inc. is the holding company of FineMark National Bank & Trust (the Bank), which is a chartered bank and trust company. It offers a range of financial services, including personal and business banking, lending services and asset management and trust services through its banking offices located in Lee, Collier and Palm Beach County, Florida, Maricopa County, Arizona, and Berkeley County, South Carolina. It also has a trust department which offers investment management, trust administration, estate planning and financial planning services. Its personal banking services include certificates of deposits, checking accounts, saving accounts, money market accounts, health savings accounts, and individual retirement accounts. Its business lending services include mixed-use building, multifamily residential, business working capital, equipment purchase and lines of credit and letters of credit. Its financial planning services include asset protection and educational planning.
FINEMARK HOLDINGS, INC. 