Camco Financial (CAFI) in Cambridge, Ohio, has processed the rights subscriptions for roughly $9.4 million of its common stock.
The $766 million-asset company said it expects the rights offering to be fully subscribed at $10 million. Because of complications related to Hurricane Sandy, the subscription agent is still processing subscriptions, Camco said Friday.
Earlier this week Camco, which announced the offering in July, had extended the rights offering deadline by one day because of the storm.
Camco launched a public phase of the offering Friday in case the initial offering was not fully subscribed. It has already received enough commitments from directors and insiders to make the offering fully subscribed, the company said. It will not solicit further purchases.