Howard Bancorp, Inc. Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional Shares

ELLICOTT CITY, Md.--(BUSINESS WIRE)--Howard Bancorp, Inc. (Nasdaq: HBMD) (the “Company”), the parent company of Howard Bank, today announced the closing of its previously announced underwritten public offering, including the exercise in full by the underwriters of their option to purchase an additional 360,000 shares, at the public offering price of $15.00 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by the Company to 2,760,000 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering, to approximately $41.4 million.