Treasure State Bank (TRSU.OB) announced the extension of the time line of its limited public offering to January 15, 2010, from December 17, 2009. The extension is necessary because of the compressed time available for investors to complete the required documents given the Christmas and New Year's holidays.
During the Rights Offering that expired November 24, 2009, shareholders of the Bank subscribed for 274,871 additional shares of common stock, which resulted in about $1.10 million in new capital for the Bank.
After taking into account the shares subscribed in the recently closed Rights Offering, and effecting the Bank's decision to authorize the offering of an additional 250 thousand shares under the combined offering, the Limited Public Offering allows for the issuance of an additional about 600 thousand shares of common stock, available only to persons selected by the Bank.
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