NetBank Inc. has priced a private placement of 6.5 million shares of its common stock.
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The Alpharetta, Ga., online banking company said Wednesday that it would sell the shares to new and existing institutional investors for $3.90 each, or a 15.9% discount to the closing price Dec. 29. (The markets were closed Monday and Tuesday.)
NetBank said that it expects to receive $23.7 million after fees and legal expenses, and that it plans to use the proceeds for "general corporate purposes." The offering is set to close Friday.
