hyperwave-exhausted.blogspot.com
million. Carolina Commerce shareholders willreceivee 0.6250 shares of Carolina Trust common stock for each sharew of Carolina Commerce commohn stock they own. In addition, each outstandiny option to purchase Carolinz Commerce common stock will becom an option topurchase 0.6250 sharees of common stock of Carolina Trust. The transaction has been approvefd by the directors ofboth companies. The deal is valued at $4.4 per share for each shar of Carolina Commercecommon stock. The transaction’s value will rise or based onCarolina Trust’s closing price per share the day beforre the deal is completed. The transaction is slated to closr in thefourth quarter.
“We are excites about our new partnership with Carolina says J. Michael Cline, chief executive of Carolina “This transaction will expand our network into the growing Gastonia and GastonCounty market, and we believs our entry into this market, with its proximityt to the Charlotte metropolitan will result in increased value to our shareholders.” Carolina Trustf will appoint two Carolina Commerce directors to its Carolina Commerce, founded in 2004, operate one branch in Gastonia. As of March 31, it had assetsd of $103.5 million, deposits of $85.6 loans of $75.1 million and $9.
8 million in shareholders’ Carolina Trust (NASDAQ:CART) operates five branches in Lincolb and Catawba counties anda loan-productiojn office in Rutherford County. As of March 31, it had asset s of $171.6 million, loans of $143.2 million, deposits of $135.12 million and shareholders’ equity of $20.q1 million.
No comments:
Post a Comment