Solera National Bancorp Inc. is offering up to 1,365,656 common shares for sale, as part of a rights offering that could bring in gross proceeds of approximately $9.9 million.
Solera stockholders will receive one nontransferable subscription right for every two common shares held as of Jan. 29. A subscription right allows a stockholder to buy one common share at $7.25 per share. The stock trades on the OTC Pink, and the stock's closing price March 5 was $8.65.
Stockholders also get an oversubscription privilege, allowing them to subscribe for any shares left unpurchased under the rights offering. The rights offering will terminate May 31.
Lakewood, Colo.-based Solera is the $173.9 million-in-assets holding company of Solera National Bank.
