Raises $7.9M through private placement of common and preferred stock

OptimumBank Holdings, Inc.

Issued 1,511,025 common shares and 525,641 Series C preferred shares at $3.90 each, gross proceeds $7,942,997.
Six investors participated; registration rights granted for 1,381,025 common shares.
Compass Point Research and Trading acted as placement agent.
Proceeds to fund operating expenses and bank capital support.
Articles amended to authorize Series C preferred stock.

item 1.01 item 3.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

OptimumBank Holdings, Inc.: Adopted articles of amendment authorizing Series C preferred stock.

Change: charter amendment

Exact text from the filing

the Company adopted articles of amendment to its Articles of Incorporation authorizing and designating the Series C preferred stock

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OptimumBank Holdings, Inc. entered into subscription agreements with six investors (effective 2024-03-28).

Action: entry
Agreement: equity purchase
Counterparty: six investors
Effective: 2024-03-28

Exact text from the filing

Effective March 28, 2024, OptimumBank Holdings, Inc. (the “Company”) entered into subscription agreements with six investors.

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OptimumBank Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-011739

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