Clyde,Kan.-based ElkcorpInc., the parent of Elk State Bank, said that the amount to pay in total perapplication pro forma in connection with its proposed acquisition of Seneca, Kan.-based is about$5.3 million, or $25,538 per share for the 208 outstanding common shares.
Accordingto a regulatory filing recently obtained by S&P Global Market Intelligence,the source of funds per pro forma is $2.6 million in raised funds frominvestors, $2.6 million in borrowed funds and the remainder of $100,000 fromElkcorp's subsidiary bank.
No sharesare going to be acquired through exchange.