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Meta Financial to raise $5.7 million with private placement

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Meta Financial Group Inc. today announced that it has entered into a purchase agreement in which it will sell an aggregate of 135,625 shares of common stock for approximately $5.7 million to Brookside Equity Partners LLC, a longtime shareholder in the company. The private placement transaction, which is expected to close Dec. 17, will enable the company “to efficiently manage growth opportunities without creating dilution prior to entering our peak season for balance sheet growth,” said J. Tyler Haahr, Meta Financial’s chairman and CEO. The company said it expects to fully utilize the additional capital by the end of March 2016.