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Evans Bancorp, Inc. (EVBN) Completes $15.4 Million Offering of Common Stock
Hamburg, N.Y.-based Evans Bancorp Inc. completed the sale of an additional 40,000 common shares, after underwriters partially exercised the overallotment option in connection with the recently completed public offering of 400,000 common shares at $35.00 per share.
With the additional gross proceeds of $1.4 million, total gross proceeds from the offering now amount to approximately $15.4 million.
The company expects to use the net proceeds to support organic growth and other general corporate purposes, including contributing capital to unit Evans Bank NA.
Hovde Group LLC served as co-manager for the offering.
Please download the transaction alert for more information about the offering.