Meta Financial announces $20M stock offering
Monday, June 10, 2013 11:19 AM
Meta Financial Group Inc., the Sioux Falls, S.D.-based parent company of MetaBank, announced plans to sell up to $20 million of its common stock in an at-the-market equity offering program. Proceeds from the offering will be added to general corporate funds and used to reduce or refinance debt and for investments or advances to the bank, the company said in a release. Meta Financial had assets of approximately $1.74 billion and about 5.5 million common shares outstanding as of March 31. An at-the-market offering enables a company to "trickle" shares onto the market without significantly affecting share prices. The shares will be offered from time to time through Sandler O'Neill + Partners LP as sales agent.