Community Financial Shares (CFIS) in Glen Ellyn, Ill., has raised nearly $500,000 through a rights offering.
The $355 million-asset company made the rights offering in connection with a $24 million private placement. The offering, which allowed shareholders to buy 2.4 shares at $1 each, is expected to raise $483,121 and to close on Thursday, the company said Wednesday.
Community Financial plans to use the proceeds for general working capital.
Earlier this month, the company extended the rights offering to increase shareholder participation. It had hoped to raise $3 million, according to a prospectus filed with the Securities and Exchange Commission.