Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock
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Mid Penn Bancorp, Inc. has completed a public offering of 2,375,000 shares of common stock at $29.50 per share, raising gross proceeds of $70 million. The net proceeds are expected to be approximately $67 million.
November 05, 2024 | 12:30 pm
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Mid Penn Bancorp completed a public offering of 2,375,000 shares at $29.50 each, raising $70 million in gross proceeds. The net proceeds are expected to be $67 million.
The completion of the public offering is a significant equity action for Mid Penn Bancorp, providing the company with $67 million in net proceeds. This capital can be used for various corporate purposes, potentially impacting the company's financial position and stock price. However, the immediate impact on the stock price is neutral as the offering was already priced and completed.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100