First Mid-Illinois to Sell About $29.3M in Common Stock

By Colin Wilhelm June 18, 2015, 5:52 p.m. EDT 1 Min Read

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First Mid-Illinois to Trade on Nasdaq

First Mid-Illinois Bancshares (FMBH) in Mattoon, Ill., has received approval from the Nasdaq Stock Market to list its common stock on the Nasdaq Global Market.

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First Mid-Illinois Bancshares in Mattoon plans to sell about $29.3 million in common stock in a private placement.

The $1.6 billion-asset company said it had reached agreements with institutional investors, company directors and other investors to sell about 1.4 million shares of its common stock at $21 each. The stock has a par value of $4 per share. The offering will close on Friday.

First Mid-Illinois plans to use the capital to support its recent purchase of 12 branch locations in Southern Illinois from Old National Bancorp and for general corporate purposes.

Colin Wilhelm

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