ChoiceOne Financial Services Prices $30M Common Stock Offering Of 1.2M Shares Of Common Stock At A Price Of $25/Share
Portfolio Pulse from Benzinga Newsdesk
ChoiceOne Financial Services (NASDAQ: COFS) announced a $30M common stock offering, pricing 1.2M shares at $25 each. The net proceeds are expected to be $28.2M, which will be used for general corporate purposes and to support its merger with Fentura Financial, Inc.
July 25, 2024 | 12:32 pm
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ChoiceOne Financial Services has announced a $30M common stock offering, pricing 1.2M shares at $25 each. The net proceeds of $28.2M will be used for general corporate purposes and to support its merger with Fentura Financial, Inc.
The stock offering will dilute existing shares, which may put short-term pressure on the stock price. However, the proceeds will strengthen the company's financial position and support its merger with Fentura Financial, which could be beneficial in the long term.
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