Horizon Bancorp to Effect Three-for-Two Stock Split

Horizon Bancorp (HBNC) said it will start a 3-for-2 stock split on Horizon’s authorized and outstanding shares of common stock.

Shareholders of record as of the close of business on May 31, the record date, will be entitled to receive an additional half share for each share of common stock held.

The additional shares issued in the stock split are expected to be distributed to shareholders on June 15.

Horizon common shares are expected to begin trading on a split-adjusted basis on or about June 18, or such other date specified by Nasdaq.

The stock split will increase Horizon’s outstanding shares from 25.6 million shares prior to the split to 38.4 million shares.

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