Since the company's rights offering was oversubscribed, the remaining shares available for issuance to those rightsholders validly exercising oversubscription privileges
will be subject to proration.
Farmers National Banc Corporation (OTCBB: FMNB), the Canfield, Ohio-based holding company for The Farmers National Bank, has said that 2,058,315 common shares have been subscribed for in its rights offering, and that all basic subscription rights and oversubscription privileges
have been accepted.
8m with oversubscription privileges
, of convertible subordinated debentures which will pay interest at nine percent until conversion, redemption or maturity.
Farmers") (OTCBB: FMNB), the holding company for The Farmers National Bank of Canfield, Ohio, announced that 2,058,315 common shares were subscribed for in the rights offering and that all basic subscription rights and oversubscription privileges
have been accepted.
Reportedly, the company has been informed by the subscription agent that the rights offering was fully subscribed, with 15,833,634 shares of Series C Liberty Braves common stock to be issued to those rights holders exercising basic and, if applicable, oversubscription privileges.
As a result, the remaining shares available for issuance to those rights holders validly exercising oversubscription privileges will be allocated pro rata based on the number of rights underlying such rights holders' basic subscription privilege, Liberty added.
collectively, the "Standby Purchasers"), subscribed for 11,060,478 shares of the Company's common stock, or approximately 79% of the 14 million shares available, pursuant to their basic and applicable oversubscription privileges
05 per share offering price through the exercise of both basic and oversubscription privileges in the rights offering.
In total, approximately 68% of the rights, representing 8,137,123 shares of the Company's common stock, were subscribed for as a result of the basic subscription privilege, with the remaining 3,890,255 shares being sold to shareholders exercising their oversubscription privileges.
Shareholders of record on January 3, 2006, will have the right to participate in the offering on a pro-rata basis, with oversubscription privileges
in the event the rights offering is not fully subscribed.
In addition, they will exercise their oversubscription privileges
in full to purchase all remaining shares, which are not otherwise purchased by other shareholders through the exercise of rights or the oversubscription privilege
Stockholders who exercise their basic subscription rights in full will also have oversubscription privileges