facebooktwitterRSS
- Advertisement -
- Advertisement -
 

« News Home

UCFC to raise $47 million



Published: Thu, January 17, 2013 @ 12:00 a.m.

Staff report

youngstown

United Community Financial Corp., the parent company of the Home Savings and Loan Co., has announced that it intends to raise $47 million through a combination of private offerings.

The company will issue $39.9 million in securities to accredited investors through stock-purchase agreements, while issuing $2.1 million in common shares to the company’s directors, officers, consultants and affiliates.

UCFC also will offer $5 million to existing shareholders at the common- share price of $2.75.

Most of the capital raised will go toward Home Savings, which has undertaken aggressive steps in recent months to pay down its debts, meet the standards of regulators and begin growing its business again.


Don't Miss a Story

Sign up for our newsletter to receive daily news directly in your inbox.

News
Opinion
Entertainment
Sports
Services
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2016 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes