Sept 25 - Camco Financial Corporation (Nasdaq:CAFI) has announced a rights offering of common shares of up to $10 million to existing shareholders. Under the terms of the rights offering, all record holders of the company's common stock as of July 29, 2012, will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase one share of company common stock at a subscription price of $1.75 per share. In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase company common stock within five years at $2.10 per share. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability and certain limitations.
The rights offering will expire on Oct. 31, 2012, unless extended by the board of directors. To the extent any shares remain unsold at the expiration of the rights offering, the company may elect to conduct a public offering to sell these shares.
About Camco Financial Corporation and Advantage Bank
Camco Financial Corporation, holding company for Advantage Bank, is a multi-state bank holding company headquartered in Cambridge, Ohio. Advantage Bank offers community banking that includes commercial, business and consumer financial services and internet banking from 22 offices. Additional information about Camco Financial may be found on the company's websites: www.camcofinancial.com or www.advantagebank.com.