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Investor seeks to increase stake in Owen Financial

Michael McCracken is seeking to acquire an additional 128,111 shares of Spencer, Ind.-based Owen Financial Corp.'s common stock, according to an interagency notice of change in control.

McCracken will purchase the shares at $35 per share, for a total purchase price of approximately $4.5 million. As of March 31, the book value per share was $32.42. Following the purchase, McCracken would own a total of 139,577 shares, or a 22.7% stake in the company.

Owen Financial currently has 766,080 authorized common shares, with about 613,080 common shares currently outstanding.