SI Financial Group Inc. in Willimantic, Conn., said late Wednesday that it had completed its conversion to a stock holding company from a mutual holding company.
The $879.5 million-asset company sold 6.5 million shares of new common stock at $8 a share, raising $52.3 million in the second-step offering. About 393,000 shares were sold to the company's employee stock ownership program, and 4 million shares were exchanged for new shares in the converted company. There are now about 10.5 million shares outstanding. The stock debuted on the Nasdaq Global Market Thursday.
