United Financial Mortgage Corp. Completes Public Offering
December 15 2003 - 5:58PM
PR Newswire (US)
United Financial Mortgage Corp. Completes Public Offering OAK
BROOK, Ill., Dec. 15 /PRNewswire-FirstCall/ -- United Financial
Mortgage Corp. (the "Company") announced today the closing of its
previously announced public offering of 2,039,214 shares of its
common stock at a public offering price of $6.67 per share. UFM
expects to realize net proceeds from the sale of its stock, after
payment of underwriter's discounts and commissions and estimated
offering expenses, of approximately $12 million. After giving
effect to the sale of its stock in the offering, the Company has
approximately 6 million shares of common stock outstanding. The
Company also announced that Maxim Group LLC, the sole underwriter,
exercised its option to purchase additional shares (at the same
public offering price of $6.67 per share) from the Company's
largest shareholder to cover over-allotments. The purchase of the
305,881 additional shares pursuant to the over-allotment option was
also completed. Copies of the prospectus relating to the offering
are available from Maxim Group LLC, 405 Lexington Avenue, 2nd
Floor, New York, NY 10174 (212) 895-3600. This communication shall
not constitute an offer to sell or a solicitation of an offer to
buy, nor shall there be any sale of any securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful. About United Financial Mortgage Corp. United Financial
Mortgage Corp. is a mortgage banker principally engaged in
originating retail and wholesale mortgages for single-family
residences of one to four units. The Company, which is authorized
to engage in the mortgage banking business in 36 states, is
headquartered in Oak Brook, Illinois and has offices in several
other states. The Company's web site (http://www.ufmc.com/) allows
consumers to get information on the many different types of
mortgage loans offered by the Company, calculate mortgage payments,
and apply online for a mortgage. This press release contains, and
future oral and written statements may contain, forward-looking
statements within the meaning of such term in the Private
Securities Litigation Reform Act of 1995 with respect to the
Company's business, financial condition, results of operations,
plans, objectives and future performance. Forward-looking
statements, which may be based upon beliefs, expectations and
assumptions of management and on information currently available to
management, are generally identifiable by the use of words such as
"believe," "expect," "anticipate," "plan," "intend," "estimate,"
"may," "will," "would," "could," "should" or other similar
expressions. Additionally, all statements in this document,
including forward-looking statements, speak only as of the date
they are made, and the Company undertakes no obligation to update
any statement in light of new information or future events. The
forward-looking statements are subject to various risks and
uncertainties. Such risks and uncertainties include, but are not
limited to, changes in demand for mortgage loans due to
fluctuations in the real estate market, interest rates or the
market in which the Company sells its mortgage loan; the negative
impact of economic slowdowns or recessions; and other risks
disclosed from time to time in the Company's SEC reports and
filings. DATASOURCE: United Financial Mortgage Corp. CONTACT: Steve
Khoshabe, President & Chief Executive Officer, United Financial
Mortgage Corp., +1-630-571-7222, or fax, +1-630-571-2623, ; or Dave
Gentry, Aurelius Consulting Group, Inc., +1-407-644-4256, or fax,
+1-407-644-0758, or , for United Financial Web site:
http://www.ufmc.com/
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