HF Financial (HFFC) Prices 2.5M Common Offering at $8.00/Share
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HF Financial Corp. (NASDAQ: HFFC) today announced the pricing of an underwritten public offering of 2.5 million shares of its common stock at a public offering price of $8.00 per share, for gross proceeds of $20 million. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are approximately $17.939 million.
The Company expects to close the sale of common stock, subject to customary conditions, on or about November 25, 2009.
Sandler O'Neill + Partners, L.P. acted as the sole underwriter for the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares of the Company's common stock to cover over-allotments, if any.
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