Mid Penn Bancorp Completes Sale of Additional Common Stock in Underwritten Offering

Mid Penn Bancorp, Inc. recently disclosed in a Form 8-K filing that it has concluded the issuance and sale of an additional 356,250 shares of common stock. This move came after the company inked an underwriting agreement on November 1, 2024, which detailed the offering of 2,375,000 shares of common stock at a public offering price of $29.50 per share in an underwritten public offering.

In accordance with the underwriting agreement, the company entered into an arrangement with Stephens Inc. and Piper Sandler & Co., acting as representatives of the underwriters named therein. The offering entailed the sale of shares of Mid Penn Bancorp’s common stock at the specified public price, with an option granted to the underwriters to procure up to an additional 356,250 shares at the same price, less underwriting discounts.

The successful completion of the issuance and sale came to fruition on November 5, 2024, as detailed in the filing. Following this transaction, Mid Penn Bancorp underscored the finalization of the sale of the specified additional shares.

Rory G. Ritrievi, President, and Chief Executive Officer of Mid Penn Bancorp, Inc., authorized and signed the filing on behalf of the company. This filing emphasizes the company’s commitment to financial transparency and compliance with regulatory requirements.

This boost in the issuance of common stock marks a strategic move by Mid Penn Bancorp to enhance its financial positioning and potentially pursue future growth opportunities. Investors and stakeholders will be keen on monitoring the impact of this stock offering on the company’s financial performance and market position in the upcoming quarters.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mid Penn Bancorp’s 8K filing here.

About Mid Penn Bancorp

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and individual retirement accounts.