ChoiceOne Financial Services Announces Commencement Of $30M Common Stock Offering
Portfolio Pulse from Benzinga Newsdesk
ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has announced a $30 million common stock offering. The proceeds will be used for general corporate purposes, including supplementing regulatory capital ratios and supporting its merger with Fentura Financial, Inc.
July 25, 2024 | 12:08 pm
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ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has commenced a $30 million common stock offering. The proceeds will be used for general corporate purposes, including supplementing regulatory capital ratios and supporting its merger with Fentura Financial, Inc.
The $30 million stock offering will increase the number of shares outstanding, which could dilute existing shareholders' value in the short term. However, the proceeds will strengthen the company's regulatory capital ratios and support its merger with Fentura Financial, which could be beneficial in the long term.
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