ArrowMark Financial Corp. (BANX) announced that it has entered into a securities purchase agreement with investors to purchase 673,249 of its shares of common stock, in a registered direct offering. The purchase price for one share of common stock was $22.28. The Net Asset Value at the time of the transaction was $22.20. The registered direct offering is accretive to current shareholders. The proceeds from the registered direct offering are expected to be $14,999,987.72, exclusive of legal and administrative expenses associated with the transaction. ArrowMark anticipates that the net proceeds will be invested in accordance with its investment strategy.
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