Tuesday, November 30, 2010
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ALBANY -- Shares of the newly-organized Heritage Financial Group Inc. began trading on the NASDAQ market today under the symbol of HBOSD. Trading under that symbol will continue for 20 days. Thereafter, the trading symbol will be HBOS.
Heritage recently completed its conversion from a mutual holding company structure to a stock holding company that is owned 100 percent by public stockholders.
The company also sold more than $6.5 million shares of common stock in its latest offering. As a result of the conversion, offering and exchange process, Heritage will have about 8.7 million shares of outstanding stock.
Stock certificates for shares purchased in the recent offering are expected to go out to the purchasers today.
Old Heritage shareholders holding shares in certificated form will be mailed a letter of transmittal around Dec. 1. Shares will be converted at a rate of one share of the old stock for 0.8377 shares of the new stock.