Online Resources To Raise NewCapital

Published February 11, 2005, 1:00 a.m. EST

|

Updated August 27, 2020, 2:34 a.m. EDT

1 Min Read

CHANTILLY, Va. - (02/11/05) -- Online Resources Corp. said Thursdayit plans to raise as much as $45 million with an offering of asmany as five million common shares. In addition the company plansto register as many as one million of its shares worth about $10million that Online Resources used to buy Incurrent Solutions lastyear. The purchase price for Incurrent was $8 million in cash andone million common shares, then valued at $7.3 million. The companysaid it plans to use the proceeds from the sale of its shares tofinance additional corporate acquisitions or other generalcorporate purposes. Underwriters for the offering ar Friedman,Billings, Ramsey & Co., of Virginia. Shares of Online Resourcestraded closed Thursday at $9.83 on the NASDAQ.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Regulation and compliance

Formerly 'troubled' bank reaches truce with activist investor

Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.

By Nathan Place
National Reporter

March 20
Charter conversions

UBS gets OCC approval for national bank charter

Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.

By Kate Berry
Reporter

March 20
Minimum capital requirements

Fed Basel rules offer upside for banks, but impact unclear

Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.

By Maria Volkova
Reporter

March 20
Custody banks

The case for banks to offer digital asset custody

Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.

By Melinda Huspen
Tech Reporter

March 20
Cyber attacks

Iran-linked cyberattack prompts Microsoft Intune warnings

CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.

By Carter Pape
Technology Reporter

March 20
Industry News

Piermont hires Day, ABA's fraud directory goes global

Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

March 20