Welcome to our dedicated page for Cornerstone Fina news (Ticker: CFIC), a resource for investors and traders seeking the latest updates and insights on Cornerstone Fina stock.
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Cornerstone Financial Corporation (OTCPK:CFIC) successfully completed a private placement of $13.7 million in common stock, issuing 1,374,000 shares at $10.00 per share, primarily to institutional investors. The funds will be utilized for general corporate purposes, focusing on organic growth and debt reduction. CEO Eugene D’Orazio highlighted the enhancement of shareholder value and liquidity by attracting institutional investors. Janney Montgomery Scott, LLC acted as the sole placement agent, with legal counsel from Windels Marx Lane & Mittendorf, LLP.
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