Northeast Bancorp (NBN) Completes 6.875 Million Share Offering

May 21, 2012 5:18 PM EDT
Northeast Bancorp (NASDAQ: NBN) announced the closing of its public offering of 6,875,917 shares of its common stock, including 625,917 shares of common stock issued pursuant to the exercise in part by the underwriter of its over-allotment option, for aggregate gross proceeds of approximately $55.0 million. The net proceeds to Northeast after deducting underwriting discounts and commissions, placement agent fees and estimated offering expenses are expected to be approximately $52.8 million.

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