On Sept. 9, CapStar Financial Holdings Inc. and certain of its directors and officers entered into and consummated a securities purchase agreement to buy 356,910 shares of the company's common stock from funds managed by Corsair Investments LP.
The common shares were purchased at $15.41 per share, resulting in an aggregate purchase price of about $5.5 million. The per-share purchase price represents the Sept. 5 closing price of the company's common stock as reported by the Nasdaq Global Select Market.
Of the common stock purchased under the agreement, 129,786 shares were acquired by the company using available cash. CapStar Financial Holdings Chairman Dennis Bottorff purchased 32,446 common shares, and President and CEO Timothy Schools bought another 32,446 shares. Eight other directors and members of the company's management team purchased a total of 162,232 shares.
