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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.