Orange County Bancorp, Inc., the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc., has announced the successful closure of its overallotment option for a recent public offering. The company has issued an additional 258,064 shares of common stock at a price of $23.25 per share. This move is expected to generate approximately $5.7 million in proceeds, after accounting for underwriting discounts and commissions. Piper Sandler & Co. and Stephens Inc. acted as the joint book-running managers for this offering.
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