Camco Financial Corp. (CAFI) announced a rights offering of common shares of up to $10.0 million to existing shareholders.
As per the terms of the rights offering, all record holders of the Company's common stock as of July 29, 2012 will receive, at no charge, one subscription right for each share of common stock held as of the record date.
Each subscription right will entitle the holder of the right to purchase one share of Company common stock at a subscription price of $1.75 per share.
In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase Company common stock within five years at $2.10 per share. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability and certain limitations.
The rights offering will expire on October 31, 2012, unless extended by the Board of Directors.
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