Tennessee Commerce raises share limit

By Geert De Lombaerde Posted on July 31, 2009 at 7:10 am

Shareholders of the Franklin-based bank have voted to double the number of shares it can issue to 20 million. The company, which had 4.7 million shares outstanding on June 30, earlier this month filed to raise up to $50 million, but its current share price (Ticker: TNCC) means that would require issuing more than 10 million shares.

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Tags: banking, stock offerings, stock valuation, Tennessee Commerce Bancorp Inc.  

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