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Midwest Banc Holdings, Inc.: Midwest Banc Holdings Closes 1.5 Million Share Offering
MELROSE PARK, IL (MARKET WIRE) Midwest Banc Holdings, Inc. (NASDAQ: MBHI) today announced that it closed its public offering of 1,500,000 depositary shares, each representing 1/100th fractional interest in a share of its Series A Noncumulative Redeemable Convertible Perpetual Preferred Stock. Proceeds of $36.3 million, net of underwriting discounts and commissions of 3.15%, were received today. Midwest has given the underwriters the option to purchase up to an additional 225,000 depositary shares pursuant to a 30- day over-allotment option. We have requested that the depositary shares be listed and traded on the Nasdaq