Choiceone Financial Services (COFS) Prices 1.2M Share Offering at $25/sh

ChoiceOne Financial Services, Inc. (NASDAQ: COFS) announced today the pricing of an underwritten public offering of 1,200,000 shares of its common stock at a price to the public of $25.00 per share, for gross proceeds of approximately $30.0 million. The net proceeds to ChoiceOne, after deducting the underwriting discounts but before deducting the estimated offering expenses payable by ChoiceOne, are expected to be approximately $28.2 million. ChoiceOne has granted the underwriter a 30-day option to purchase up to an additional 180,000 shares of Company common stock to cover over-allotments at the public offering price, less the underwriting discount.

D.A. Davison & Co. is acting as sole book-running manager for the offering.

ChoiceOne intends to use the net proceeds of this offering for general corporate purposes including supplementing regulatory capital ratios and in conjunction with its announced merger with Fentura Financial, Inc.

ChoiceOne expects to close the offering, subject to customary conditions, on or about July 26, 2024.

You May Also Be Interested In

• Trifecta Gold closes $1.66M private placement for Yukon exploration
• Trump: 40-60% of chip manufacturing will be in the U.S. - CNBC Interview
• Alarum Technologies responds to FBI investigation of subsidiary NetNut