Allegiance Bank of North America Announces Exercise of Over-Allotment Option
February 01 2005 - 5:23PM
PR Newswire (US)
Allegiance Bank of North America Announces Exercise of
Over-Allotment Option BALA CYNWYD, Pa., Feb. 1
/PRNewswire-FirstCall/ -- Allegiance Bank of North America
(OTC:ABPA) (BULLETIN BOARD: ABPA) (the "Company") announced that
Ryan Beck & Co., Inc., the underwriter of its recently
completed stock offering, has exercised its option to purchase an
additional 315,000 shares of the Company's common stock to cover
over-allotments. On January 13, 2004, the Company completed the
sale of 2,100,000 shares of its common stock at $5.75 per share in
a firm commitment underwritten offering. Net proceeds from the
offering, including the over-allotment option, total approximately
$12.7 million. The common stock offering was made only by means of
an offering circular. Copies of the offering circular may be
obtained from Ryan Beck & Co., Inc., 18 Columbia Turnpike,
Florham Park, NJ 07932. Allegiance Bank of North America is a
locally managed community bank located in Bala Cynwyd,
Pennsylvania. It offers a sophisticated package of services beyond
traditional bank services, such as escrow account management,
specialty real estate lending programs, internet banking and
non-bank services including title insurance, real estate settlement
services, financial planning, life and health insurance and
retirement programs. COMPANY CONTACT: Allegiance Bank of North
America, Bala Cynwyd C. Andrew Cook, (610) 949-0760 DATASOURCE:
Allegiance Bank of North America CONTACT: C. Andrew Cook of
Allegiance Bank of North America, Bala Cynwyd, +1-610-949-0760
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