Mid Penn Bancorp, Inc. (MPB) on Friday announced the pricing of its public offering of 2.375 million shares at $29.50 per share, for gross proceeds of $70 million.
The lender intends to use the net proceeds from the offering of around $67 million to support its continued growth, including investments in Mid Penn Bank, potential redemption of subordinated debt, future strategic transactions, and others.
The company has also granted the underwriters a 30-day option to purchase up to an additional 356,250 shares.
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