Brooke Corporation on Monday announced the completion of its follow-on offering of 2.5 million shares of its common stock.
Priced at $11.50 per share, the gross proceeds of the offering were $28,750,000, with proceeds of $27,096,875 to the Company, before expenses and after underwriter commissions and discounts. In connection with the offering, the underwriters have been granted a 30-day option to purchase up to 375,000 additional shares of the Company’s common stock to cover any over-allotments.
Brooke Corporation, based in Overland Park, Kan., is a holding company with three primary subsidiaries. Brooke Franchise Corporation distributes insurance and financial services through a network of over 440 franchise locations; Brooke Credit Corporation originates loans to insurance agencies, financial services practices, funeral homes and other local businesses; and Brooke Brokerage Corporation sells hard-to-place and niche insurance on a wholesale basis through locally owned insurance agencies, including Brooke franchises.
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