Orange County Bancorp Launches Public Offering Of Common Stock; No Size Or Amount Disclosed
Benzinga Newsdesk 1 year ago
NewsOfferings
Orange County Bancorp, Inc. (NASDAQ:OBT), parent company of Orange Bank & Trust Company, (the "Bank") and Hudson Valley Investment Advisors, Inc. ("HVIA"), today announced it launched an underwritten public offering
Orange County Bancorp, Inc. (NASDAQ:OBT), parent company of Orange Bank & Trust Company, (the "Bank") and Hudson Valley Investment Advisors, Inc. ("HVIA"), today announced it launched an underwritten public offering of shares of its common stock. The Company also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock.
The Company plans to use the net proceeds from the offering for general corporate purposes, which may include investments in the Bank supporting continued growth, augmenting regulatory capital and liquidity and providing for potential strategic acquisitions. The Company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction.
Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers.