Mid Penn Bancorp Inc

NASDAQ:MPBUnited States

Nov 4, 2024

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• Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock, from 6:18PM ET on Monday Nov 04, 2024 by Dow Jones

  6:18PM ET on Monday Nov 04, 2024 by Dow Jones
  Companies Mentioned: MPB
  
  Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock
  HARRISBURG, Pa.--(BUSINESS WIRE)--November 04, 2024--
  Mid Penn Bancorp, Inc. ("Mid Penn" or the "Company") (NASDAQ: MPB), the parent company of Mid Penn Bank, announced today that it has completed its underwritten public offering of 2,375,000 shares of common stock at a price of $29.50 per share. The aggregate gross proceeds of the offering were $70 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $67 million. The Company intends to use the net proceeds of the offering to support its continued growth, including investments in Mid Penn Bank to support organic growth, potential redemption of subordinated debt, future strategic transactions, and general corporate purposes.