Orion Bancorp raises $25 million in private placement

Wed. July 01, 2009; Posted: 03:03 PM

Jul 01, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- OBCP | Quote | Chart | News | PowerRating -- Orion Bancorp, Inc., a US-based provider of commercial and personal banking services, has raised $25 million through a private placement of equity shares.

The securities in the offering have been sold to two investors.

Deal Value (US$ Million) 25
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-06-30

Deal Participants

Target (Company)   Orion Bancorp, Inc. (Formerly: FirstBancorp, Inc.)
Acquirer (Company) Undisclosed Investors

Deal Rationale

Orion Bancorp intends to use the gross proceeds of the offering for payments to executive officers, directors, or promoters.

For full details for OBCP click here.

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