Community Financial Shares (CFIS) in Glen Ellyn, Ill., is extending its rights offering to boost shareholder participation.
The $355 million-asset company said it would extend the offering by four days, so it will expire on Friday. The offering gives shareholders the right to buy 2.4 shares at $1 a share. The share price was $1.25 at the end of trading on Monday.
Community Financial hoped to raise $3 million with the rights offering, according to a prospectus filed with the Securities and Exchange Commission. The rights offering is required under a $24 million private placement that was agreed to last December.
Community Financial Shares is parent of Community Bank-Wheaton/Glen Ellyn, which has four branches in Illinois.