Brooke Corporation of Overland Park, Kansas, announced that it has issued 375,000 shares of its common stock to complete the exercise in full of the over-allotment option granted to the underwriters as part of the company’s recent follow-on offering. Sandler O’Neill & Partners, L.P., the lead underwriter and sole book-running manager for the offering, and co-managers Fox-Pitt, Kelton Inc. and Oppenheimer & Co. Inc. exercised the option to purchase the stock on Aug. 22 and the transaction closed today.
Brooke Corporation is a holding company with three primary subsidiaries. Brooke Franchise Corporation is a subsidiary that distributes insurance and financial services through a network of more than 450 franchise locations as of July 31, 2005. Brooke Credit Corporation is a subsidiary that originates loans to insurance agencies, financial services practices, funeral homes and other local businesses, including Brooke franchises. Brooke Brokerage Corporation is a subsidiary holding company that sells hard-to-place and niche insurance on a wholesale basis through locally owned insurance agencies, including Brooke franchises.
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