United Community Financial Corp. Announces Issuance of 1.59M Shares in Private Offering at $1.35 per Share
United Community Financial Corp. (NASDAQ: UCFC), holding company of The Home Savings and Loan Company, announced today that it has sold 1,597,290 common shares of UCFC at a price of $1.35 per share to an accredited investor pursuant to a Subscription Agreement between the investor and UCFC dated December 12, 2011. The net proceeds from the sale were approximately $2.0 million. Through its purchase of these common shares of UCFC, the investor, which did not own any UCFC securities prior to the sale, now owns approximately 4.9% of UCFC's total outstanding common shares.
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