OptimumBank Holdings Commences 7.5M Share Private Placement

OptimumBank Holdings, Inc. OPHC earlier today announced that it has commenced a private placement of 7,500,000 shares of the Company's common stock at a price of $2.00 per share. The completion of the offering is contingent upon the sale of a minimum of 5,000,000 shares, as well as shareholder approval of the terms of the offering and an amendment to the Company's articles of incorporation to increase the number of authorized shares from 1,500,000 shares to 20,000,000. If the offering is consummated, the gross proceeds of offering, before payment of placement fees and offering expenses, will be a minimum of $10,000,000 and a maximum of $15,000,000.