GREAT NECK, N.Y., April 15, 2016 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital Inc. (NASDAQ:LOAN) (“LOAN” or “the Company”), MBC Funding II Corp (NYSE:LOAN/26) (“Funding”), a real estate lender specializing in short-term, “hard money” real estate loans, today announced the pricing of an underwritten public offering by its wholly owned subsidiary, MBC Funding II Corp (“Funding”) of $6,000,000 aggregate principal amount of Funding’s 6% senior notes due April 30, 2026. MBC is guaranteeing Funding’s obligations under the Notes and pledged 100% of Funding’s equity to secure its obligations under the guarantee. The gross proceeds to Funding from this offering are expected to be approximately $6,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on April 22, 2016, subject to customary closing conditions.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on April 15, 2016.
The offering will be made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained, when available, by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Manhattan Bridge Capital, Inc.
Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as ‘‘hard money’’ loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. We operate the web site: http://www.manhattanbridgecapital.com