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Clearwater, Florida,
- June 8, 2004: Nicholas Financial, Inc. (Nasdaq, NICK) today announced
that it closed the sale of an additional 300,000 shares of its common
stock at a public offering price of $8.00 per share in connection with
the exercise of the over-allotment option granted to the underwriter of
the Company’s recent offering of 1,100,000 shares of common stock that
closed on May 19, 2004. The net proceeds to the Company of the offering
(including the exercise of the over-allotment option), totaling
approximately $9.8 million, are being used to pay down the Company’s
line of credit. In addition, approximately 900,000 shares of common
stock were sold in the recent offering by a group of selling
shareholders.
Upon completion of the recent common stock offering and exercise of
the over-allotment option, the Company has approximately 6.5 million
shares of common stock outstanding. The Company’s common stock
trades on the Nasdaq National Market under the symbol “NICK” and had
a closing price of $8.32 per share on June 7, 2004.
Ferris, Baker Watts, Incorporated served as the sole underwriter for
the offering, including the over-allotment option. Copies of the
prospectus relating to this offering may be obtained from the
offices of Ferris, Baker Watts Inc., 100 Light Street, 8th Floor,
Baltimore, Maryland 21202.
The registration statement relating to these securities has been
filed with the Securities and Exchange Commission and has been
declared effective. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the common stock,
which is being made only pursuant to the prospectus relating to the
offering, nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such state.
Founded in 1985, Nicholas Financial provides specialty consumer
finance products through its 32 branch offices located throughout
the eastern United States.
Download Adobe Acrobat version of this press release.
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