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Middlefield Banc Corp. completes common stock private placement

Middlefield, Ohio-based Middlefield Banc Corp. on June 30 completed a privateplacement of its common stock, selling a total of 360,815 common shares at$33.00 per share, providing $11.9 million of gross proceeds.

The company used the net proceeds of the offering forgeneral corporate purposes and the extinguishment of $9.5 million of debt,according to a press release.

Boenning & Scattergood Inc. acted as sole placementagent in connection with the private placement, with Grady & Associatesserving as legal counsel.