Camco Financial (CAFI) in Cambridge, Ohio, is looking to raise up to $10 million through a common shares rights offering to existing shareholders.
Participating shareholders would receive one subscription right for each share of common stock that they already own, the $785 million-asset company said Tuesday. Camco did not specify a use for any proceeds.
Each subscription right would allow the shareholder to buy another share of common stock. For every two shares purchased in the offering, investors would receive a warrant to buy common stock within five years. Camco said that it may sell any shares not subscribed in a public offering.