For the second time in three months, BofI Holding Inc. in San Diego has announced plans to raise fresh capital.
The $2 billion-asset parent of BofI Federal Bank said Wednesday that it is looking to raise up $13.8 million of capital through the sale of common stock and that it intends to use the proceeds to pursue growth opportunities, including possible acquisitions.
The stock sale would follow the completion of a preferred stock offering in which the company raised more than $21 million by selling 21,182 shares at $1,000 each. That sale took place between early September and mid-November, according to filings with the Securities and Exchange Commission.
In the latest offering. BofI said it will offer 750,000 shares to the general public at a price of $16 each. Its underwriter, B. Riley & Co. LLC, also has a 30-day option to buy an additional 112,500 shares.
BofI's shares were trading at $16.29 at midday Wednesday, down 0.9% from Tuesday's closing price.
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