Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., May. 8, 5:57 AM
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Slide #9. Mid Penn Bancorp, Inc. — Secondary Offering
Mid Penn Bancorp, Inc. (NASDAQ:MPB)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Mid Penn Bancorp, Inc. ("Mid Penn" or the "Company") (NASDAQ: MPB), the parent company of Mid Penn Bank, announced today the pricing of its previously announced public offering of 2,600,000 shares of common stock at $25.00 per share for gross proceeds of $65 million. After deducting the underwriting discount and other estimated offering expenses, the Company expects to receive net proceeds of approximately $61 million. The Company expects to close the sale of the shares of common stock on or about May 4, 2021, subject to customary closing conditions. Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers. The underwriters will have a 30-day option to purchase up to an additional 390,000 shares of common stock from the Company.
Mid Penn Bancorp is a bank holding company. Through its subsidiary Mid Penn Bank (the Bank), Co. is engaged in accepting deposits and loans. The Bank engages in commercial banking and trust business, making available to the community a range of financial services, including, but not limited to, mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development and local government loans and various types of time and demand deposits. The Bank also provides other services such as online banking, telephone banking, cash management services, automated teller services and safe deposit boxes.
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Buy (3.33 out of 4)