01:34 PM EST, 12/13/2024 (MT Newswires) -- Flushing Financial ( FFIC ) shares were down almost 12% in recent Friday trading after the company said late Thursday it priced an offering of about 4.6 million common shares at $15.25 per share for gross proceeds of $70 million.

The bank holding firm said it gave underwriters a 30-day option to buy up to 688,525 more shares at the public offering price, less discounts and commissions.

Flushing Financial ( FFIC ) said it plans to use the net proceeds for general corporate purposes, including investing a portion of the proceeds to support the capital ratios of its Flushing Bank unit.

The offering is expected to close on or about Monday, the company said.

Price: 15.25, Change: -2.01, Percent Change: -11.62