Howard Bancorp in Ellicott City, Md., raised nearly $500,000 in capital after management and directors exercised warrants to buy common stock.
The $534 million-asset company said in a press release Thursday that certain individuals recently exercised warrants to buy about 47,500 shares of stock at $10 each. The warrants, set to expire at the end of last month, were part of an issue granted in 2004 tied to the bank's creation and initial capitalization.
The warrants exercised by the board and management represented all of the warrants held by those individuals.
